r/technology • u/geoxol • Jan 13 '23 • Bravo! 1 Helpful (Pro) 1

Apple CEO Tim Cook to take more than 40% pay cut Business

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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u/gnocchicotti Jan 13 '23

Pat Gelsinger of Intel is my favorite CEO statistic.

CEO of a company with 1/5 the revenue of Apple, and is in stunning decline, made 80% of Tim Cook's compensation in 2022. For a brief time I recall he made more than Satya Nadella and Tim Cook combined.

I assume there are many ways to split this and it changes all the time due to performance targets and stock price, but if I were an Intel shareholder I would be watching that dude very, very closely to say the least. Shareholders voted 2:1 to reject the pay package in rather uncommon rebuke, but guess what the vote is non-binding because America is about funneling money to the top 0.01% and anyone with a pension fund or a 401k can go fuck themselves.

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u/harlanm71 Jan 14 '23

...and nearly his entire pay package is performance based over 3-5 years and on track for a 0% payout. To receive the full amount, the stock price would have to grow by several hundred billion dollars. Gelsinger's headline pay package is just due to SEC requirements for how executive compensation is reported. The board addressed this in the 2022 annual report. He actually received a $1.1M salary and $1.75M cash hiring bonus.

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u/348274625912031 Jan 14 '23

Why is this so far down?

People citing the total potential package, but it is dependent on share price metrics..