Apple (NASDAQ:AAPL) CEO Tim Cook's total compensation for 2023 witnessed a decline, amounting to $63.2 million compared to $99.4 million the previous year. For 2022, Cook’s compensation stood at $98.7 million.
The decrease is primarily attributed to the diminished value of his stock awards, as revealed by Apple's proxy statement.
In 2023, stock awards were valued at $47 million, contrasting with $83 million in the preceding year and $82.3 million in 2021.
This reduction in the value of stock awards impacted Cook's overall compensation for the year 2023.
Luca Maestri, SVP and CFO of Apple, received $26.9 million vs. $27.1 million in 2022. Other senior executives, including COO Jeff Williams, earned a similar amount.