As always, Apple is obliged to justify its expenses to theSEC. Under this acronym hides a historic institution in the United States, the Securities and Exchange Commission, whose role is precisely to monitor companies listed on the stock exchange to verify that they comply with their obligations. Additional insurance for shareholders.
In a recent document filed with this organization, we learn that Tim Cook earned no less than$99.4 million in 2022. This sum consists of his salary (3 million) but above all AAPL shares, to the tune of 83 million dollars. For comparison, in 2021, Cook earned $98.7 million this way. Butthe situation will change in 2023.
Priority on growth
Indeed, the SEC file also tells us that Apple is targeting$49 million in compensation for his number one in 2023. That is a drastic drop of almost 40% in the total if we compare it to that of the last twelve months. For what ? Because the investors themselves would have requested it during previous returns sent to the Apple and its managers. Luca Maestri is responsible for financial matters at the company.
Several factors could explain this major change. First of all, you should know that theiPhone 14 Pro and iPhone 14 Pro Max salesmay not have achieved their manufacturer's expectations following production problems in Asia which seriously delayed deliveries. With this, inflation has certainly caused consumers not to buy as much as expected. Finally, the prices of components would be on the rise for subcontractors.
To be validated
Good to know, however: this update of Tim Cook's salary will have to be confirmed by the vote of the shareholders concerned and the board of directors in the coming months. But it seems thatthe CEO tends to agreewith a reduction in his remuneration, which would theoretically coincide with better performance for Apple.
As a reminder, the firm with three thousand billion dollars in capitalizationwill announce its financial results for the final quarter of 2022 on February 2. We will be able to discover the exact turnover achieved by the group by selling iPhones, Macs and iPads.
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By : Keleops AG
