Hulu may want to start work on a sequel to its 2021 documentary The Housewife and the Hustler about Real Housewives of Beverly Hills star Erika Jayne and her estranged husband Tom Girardi.
13.01.2023 - 01:43 / deadline.com
Apple CEO Tim Cook came close to $100 million in total compensation for the second straight year, taking home $99.4 million in fiscal 2022, according to a proxy statement filed with the SEC.
The filing notes that Apple’s compensation committee plans to slash the top exec’s pay by more than 40% compared with the target amount for last year in the wake of “feedback” from displeased investors. His target amount for fiscal 2023 is $49 million.
“Taking into consideration Apple’s comparative size, scope, and performance, the Compensation Committee also intends to position Mr. Cook’s annual target compensation between the 80th and 90th percentiles relative to our primary peer group for future years,” the filing notes. The sizable cut in pay was determined after the committee “balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received.”
Similar to 2021, when Cook made $98.7 million, the bulk of the top exec’s 2022 compensation came in the form of a stock award, with a base salary of $3 million. In 2022, his stock award totaled $83 million.
Last year, news of Cook’s 2021 compensation prompted some shareholders, including an influential advisory firm, to urge a vote against the package. The setup for public companies generally provides shareholders with an opportunity to approve executive pay plans, though bylaws vary as to how a “no” vote on pay affects the actual payouts. In the end, 64% of shareholders voted in favor of Cook’s pay package, a far less definitive stamp of approval than most top execs receive.
Last year was a decidedly tougher one than 2021 for the entire tech sector — perhaps its worst since the 2008 financial
Hulu may want to start work on a sequel to its 2021 documentary The Housewife and the Hustler about Real Housewives of Beverly Hills star Erika Jayne and her estranged husband Tom Girardi.
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