And Fringe Benefits, Too!

Apple CEO Tim Cook is a very well-paid boy.

You’d be smiling, too

His base salary is $3 million.

His 2017 bonus was $9.3 million.

During the year he owned 560,000 shares of Apple stock that vested.  The value:  $89 million.

He has 2.94 million more shares of Apple stock that will eventually vest.  Their value, if they vest at the price of Apple stock on the day The Curmudgeon wrote this piece:  $392 million.

There is no way in the world this kind of compensation can possibly be justified, but that’s a subject for another time.  No, The Curmudgeon’s interest today is in some of the fringe benefits Apple paid its CEO.

It paid $3000 for his life insurance premiums.

Because we wouldn’t want the family to go to the poor house if the guy died tomorrow.

And reimbursed him $103,000 for unused vacation time.

That’s nice:  The Curmudgeon once worked for a company that unapologetically refused to pay him for three days of unused vacation time when his salary was $56,000 a year.

And The Curmudgeon’s favorite:  Apple put $16,200 into Cook’s personal 401(k).

Because a guy worth a half-billion dollars never knows when he’s going to need to fall back on his pension.

The greed knows no end, does it?

 

 

 

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