Apple retail Chief Angela Ahrendts was the company’s top-paid executive again last year, receiving $25.8 million in total compensation, according to a regulatory filing. The former Burberry chief’s current pay package includes a $1 million base salary, $20 million stock grant, $4 million bonus and relocation expenses of $474,981.
Ahrendts got a bigger package last year
Last year, Apple offered a lucrative package to Ahrendts to quit her job with the luxury retailer and join Apple to revitalize its online and brick-and-mortar stores. In 2014, she received $73.4 million in compensation, and much of it was in stock grants. Ahrendts got $37 million as compensation for the value of Burberry stock she gave up to accept the job at Apple and a new-hire stock allocation valued at $33 million.
Eddy Cue, head of Internet software, earned $25 million, including a $20 million stock award. The total compensation of Chief Financial Officer Luca Maestri was $25.3 million.
ValueWalk's Raul Panganiban interviews Dr. Kathryn Kaminski, Chief Research Strategist at AlphaSimplex, and discuss her approach to investing and the trends she is seeing in regards to quant investing and hedge funds. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with AlphaSimplex's Read More
Apple had a record year under Cook
Apple CEO Tim Cook took home $10.3 million in 2015, including a $2 million base salary and bonus worth $8 million. He owns stock worth $57.7 million. When Cook was named CEO in 2011, he was granted shares with a current value of $479 million, but since those have not yet been earned or vested, they are not included in the stock he holds at present. Those shares will vest between now and August 2021.
Cook has received a raise of $1 million, and this will bring his base salary to $3 million this year. This raise is the acknowledgement of his individual performance and leadership. Cook has pledged to give away his fortune to charity after retaining the amount needed to pay for his nephew’s college education.
The year 2015 was another record year for Apple under Cook’s guidance as the company’s revenue went up by 28% on year over year basis to $233.7 billion. Earnings per diluted share saw an increase of 43% over 2014. In October, the iPhone firm forecast that its record earnings streak will continue into 2016, and for the first quarter of 2016, revenue has been projected between $75.5 and $77.5 billion.
On Wednesday, Apple stock closed down 1.96% at $100.70. In 2015, the stock lost almost 8%, while in the last month, it is down by over 15%.