SEC Filing Reveals Apple CEO's Pay Package
DAVID GREENE, HOST:
NPR's business news starts with a big pay cut.
(SOUNDBITE OF MUSIC)
GREENE: Apple hit a big milestone this year when it became the most highly valued public company in history. So it may be a surprise to hear that Apple's CEO, Tim Cook, saw a big dip in salary - like, a 99 percent dip.
Documents filed with the government yesterday show Cook made just over $4 million this year. Last year, he was given a package worth $378 million. Of course, the bulk of that was stock, which will vest over the next decade. So what seems like a massive pay cut on paper, isn't quite as dramatic as it sounds.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.