Apple Gives Tim Cook A Big Raise, Requires CEO To Fly Private

Apple CEO Tim Cook outside a Temple in Mumbai

Executive officers at Apple, including Luca Maestri, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, all received bonuses of over $3 million, which brought their compensation, including salary and stock awards, to approximately $24.2 million each, provided they continued with the company long enough for awarded stock to vest.

Cook's actual salary saw a comparatively smaller $57,692 increase, but the bulk of his nearly $4 million raise came from performance-based cash bonuses. Apple notes that Cook added $93,109 in personal travel costs for the company, "based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees".

Camera IconApple CEO Tim Cook tests out a new iPhone X during a media event at Apple's new headquarters in Cupertino, California. Cook isn't the first Apple CEO to use a private jet for air travel. Again. That's why Tim Cook and other Apple execs received appropriate compensation.

The Apple CEO now has to fly private, even for personal travel on orders of Apple's board of director.

In its most recent quarterly earnings, Apple said iPhone sales rose 2 percent, its China business grew 12 percent, and its services sector - including Apple Pay, Music, App Store and iCloud - soared 34 percent higher than the same period a year earlier. The payout was a part of the huge welcome package that Apple gave Cook after he succeeded Steve Jobs in 2011.

Erica Garner declared brain dead with no chance of recovery
The city medical examiner ruled Garner's death a homicide, with asthma and obesity as contributing factors. Miller says she was shunned by the Garner family. "As we sent prayers up.so sorry to hear the news".

The company has made a decision to spend after Cook's security as well.

Just to put it in perspective: Apple's stock (NASDAQ: AAPL) started off the year at around $116.15 per share (at market close on January 3, 2017), but are now up about 39 percent (at $170.55 per share) as of Thursday, December 28th at 3:15 pm EST.

Apple is now soaring high, as it has been for the last couple of years.

Apple's executive compensation programme is created to reward its senior-level officials when the company does well, and dock them when it doesn't.

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