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Tue Sep 27 22:38:57 SAST 2016

Apple CEO 2012 pay to drop to $4.17 million from $378 million in 2011

Reuters | 27 December, 2012 17:11
Apple Inc. CEO Tim Cook takes the stage during Apple Inc.'s iPhone media event in San Francisco, California September 12, 2012.
Image by: BECK DIEFENBACH / REUTERS

Apple Inc Chief Executive Tim Cook will receive total compensation of $4.17 million in 2012, down from a $378 million pay package in 2011 that included stock awards.

Apple, maker of the popular iPhone and iPad devices, said in a regulatory filing that the executive, who became CEO in August 2011, will not receive any stock awards for 2012.

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