Apple CEO gets big pay cut

Zyzzyva said:
I find these stories rather painful tbh.
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Then ignore them, don't read them. Not everyone has the same interests.....and that's okay. What might make interesting reading fodder for you, may be boring for me....and I'm okay with that
 
surfs-up said:
Then ignore them, don't read them. Not everyone has the same interests.....and that's okay. What might make interesting reading fodder for you, may be boring for me....and I'm okay with that
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Perhaps i should explain myself. There have been a few sensationalist articles on international sites creating the impression that Tim Cook has received a major salary cut while loosely mentioned the poor performance of Apple stock. It comes on the back of a number of stories from last year creating the impression that he was being paid 100's of millions of dollars when really he was getting stock which was for the next ten years. I've seen headlines basically saying this year he got a 98% pay cut.

I just find the way stories are "juiced up" to drive traffic kinda annoying. My comment isn't directed at Mybb or this article specifically, more the general trend.
 
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Zyzzyva said:
Perhaps i should explain myself. There have been a few sensationalist articles on international sites creating the impression that Tim Cook has received a major salary cut while loosely mentioned the poor performance of Apple stock. It comes on the back of a number of stories from last year creating the impression that he was being paid 100's of millions of dollars when really he was getting stock which was for the next ten years. I've seen headlines basically saying this year he got a 98% pay cut.

I just find the way stories are "juiced up" to drive traffic kinda annoying. My comment really directed at Mybb or this article specifically, more the general trend.
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That's true. In terms of accounting, well at least IFRS anyway (US uses US GAAP and I don't know that), the stocks will only be recognized in the books of the company over the 10 year period, so to get the correct salary for last year you would divide by 10. Then add 1/10 of the stock value to his salary this year.

I don't know his actual salary last year, my guess is similar, so his salary would barely have changed. Unless his actual salary took a big knock or increase.
 
eitai2001 said:
That's true. In terms of accounting, well at least IFRS anyway (US uses US GAAP and I don't know that), the stocks will only be recognized in the books of the company over the 10 year period, so to get the correct salary for last year you would divide by 10. Then add 1/10 of the stock value to his salary this year.

I don't know his actual salary last year, my guess is similar, so his salary would barely have changed. Unless his actual salary took a big knock or increase.
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The article gives the numbers.

In terms of base salary, Cook actually received a 50 percent increase to $1.4 million for 2012, and the same 200 percent non-equity bonus other top Apple executives like CFO Peter Oppenheimer earned, Apple said in the Thursday filing ahead of a February 27 shareholders’ meeting.

Cook’s 2012 package includes a nonequity bonus of $2.8 million.

Despite the increase, Apple said Cook’s target annual cash compensation is “significantly below the median annual cash compensation level for CEOs at peer companies.” It also said that Cook will not receive any stock awards for 2012.
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