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Apple CEO Tim Cook's 2020 Total Compensation Up 28% To $14.77 Mln

Apple Inc. (AAPL) disclosed in a regulatory filing that its Chief Executive Officer Tim Cook received a 2020 total compensation that was about 27.8 percent higher than the prior year, while his base salary remained unchanged in 2020 as well as in 2019.

Cook received a total compensation of $14.77 million, including base salary and incentives in 2020, compared to the $11.56 million he received the prior year, and $15.68 million he got in 2018.

The total compensation received by Cook in 2020 includes $3.00 million as base salary, non-equity incentive plan compensation of $10.73 million, and all other compensations of $1.04 million.

Apple paid Cook 256 times as much as the company paid its median employee, who earned $57,783.

The company also disclosed that its antitrust compliance officer is responsible for the development, review, and execution of the company's antitrust compliance program and regularly reports to the Audit Committee.

Those regularly reports cover the alignment of the program with the company's potential antitrust risks, and the effectiveness of the program's design in detecting and preventing antitrust issues and promoting compliance with laws and Apple policies.

Apple said in the regulatory filling that, beginning in 2021, an environmental, social, and governance modifier based on the company values and other key community initiatives will be incorporated into annual cash incentive program.

The change is intended to further motivate the company's executive team to meet exceptionally high standards of values-driven leadership in addition to delivering strong financial results. The financial performance measures and the threshold, target, and maximum payout opportunities under annual cash incentive program for named executive officers will not change, Apple said.

However, the Compensation Committee will use the modifier to determine whether to increase or decrease the bonus payouts by up to 10% based on the Compensation Committee's evaluation of named executive officers' performance with respect to Apple Values and other key community initiatives during 2021.

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