Apple CEO Tim Cook received a significant pay raise in the company’s fiscal year 2024, according to a regulatory filing with the Securities and Exchange Commission (SEC). Cook’s total compensation package reached $74.6 million, up from $63.2 million in fiscal 2023 but below the $99.4 million he earned in fiscal 2022.
For fiscal 2024, Cook’s compensation included a $3 million base salary, consistent with the past two years, and $58 million in stock awards. His package also featured $12 million in non-equity compensation and $1.52 million in other compensation.
In comparison, Cook’s fiscal 2023 pay included $46.9 million in stock awards, $10.7 million in non-equity compensation, and $2.5 million in other compensation.
Beyond tracking iPhone demand, investors are closely monitoring Apple’s revenue from its services segment, which includes Apple TV+, Apple Music, and iCloud. The company is also investing in artificial intelligence with the development of “Apple Intelligence” for its iPhones and Mac computers.
Apple’s services division reported an all-time high revenue of $24.97 billion in the fourth quarter of fiscal 2024, marking a key milestone for the tech giant.
The SEC filing also detailed the compensation of other top executives. CFO Luca Maestri’s total pay for fiscal 2024 rose slightly to $27.1 million from $26.9 million in the previous year. Similarly, COO Jeff Williams received a 2024 pay package of $27.1 million, up from $26.9 million in fiscal 2023.
