Apple’s Top 5 Highest-Paid Executives And Directors

Apple CEO Tim Cook saw his total compensation increase by over 500 percent annually in 2021. CRN breaks down Apple’s top five highest-paid executives in 2021 as well as the compensation for its board of directors.

Tim Cook’s Pay Grows 568 Percent

Apple CEO Tim Cook’s total compensation surged a massive 568 percent in 2021 compared with 2020, leading the company’s executive payroll by a wide margin.

“In 2021, we marked the 10th anniversary of Tim Cook’s leadership as CEO,” said Apple in a recent proxy filing with the U.S. Securities and Exchange Commission. “It has been a remarkable decade for Apple, and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to the CEO role in 2011.”

The Cupertino, Calif.-based iPhone and devices giant reported record sales of $365.8 billion in its fiscal year 2021, up a whopping 33 percent year over year. In the first day of trading in 2022, Apple briefly reached a historic $3 trillion market value, just 17 months after the company became a $2 trillion company.

CRN breaks down the top five highest-paid executives at Apple as well as a breakdown of compensation for Apple’s board of directors, which includes former U.S. Vice President Al Gore.

T op 7 Highest-Paid Director Compensation

Apple paid seven members of its board of directors between $353,600 and $556,700 in 2021.

These non-employee directors include former U.S. Vice President Al Gore; former Boeing Company top executive James Bell; Andrea Jung, chairman of Grameen America; former Calico CEO Art Levinson; former CEO of The College Futures Foundation Monica Lozano; Ron Sugar, former CEO of Northrop Grumman; and co-founder of BlackRock Sue Wagner.

Levinson led the group in total compensation from Apple with $556,700 received in 2021, followed by Sugar at $400,100 and then Jung at $392,400.

Rounding out the list of Apple’s highest-paid directors were Wagner at $379,000, Lozano at $368,900, Gore at $362,100 and Bell at $353,600.

The majority of board of director compensation came via stock awards and fees earned.

5. Kate Adams

Senior Vice President, General Counsel and Secretary

Total Compensation: $26,974,100

Kate Adams received a base salary of $1 million along with stock awards totaling roughly $22 million. Apple’s senior vice president and general counsel and secretary received an additional $4 million in Apple’s non-equity incentive plan, which is tied to internal performance goals.

In 2021, Adams received a total of $26,974,100 in total compensation, up from $26,249,000 in 2020.

Adams oversees all legal matters at Apple, including global security, corporate governance, intellectual property, litigation, compliance and privacy. She joined Apple in 2017 after serving as general counsel for Honeywell International.

4. Jeff Williams

Chief Operating Officer

Total Compensation: $26,977,000

Apple Chief Operating Officer Jeff Williams received a base salary of $1 million on top of stock awards totaling $21,959,000. He also received $4 million via Apple’s non-equity incentive plan.

In 2021, Williams’ total compensation was $26,977,100, up from $26,251,800 in 2020.

The longtime Apple veteran first joined the company in 1998, with his current role as COO coming in 2015. Williams oversees Apple’s entire worldwide operations as well as customer service and support. He also leads Apple’s design team and the software and hardware engineering behind Apple Watch.

3. Luca Maestri

Senior Vice President, Chief Financial Officer

Total Compensation: $26,978,500

Apple’s chief financial officer and senior vice president, Luca Maestri, received $21,959,600 in stock awards on top of a $1 million base salary. Via Apple’s non-equity incentive compensation plan, he received an additional $4 million.

In 2021, Maestri received a total of $26,978,500 in compensation, up from $26,253,300 in 2020.

Maestri is responsible for Apple’s investor relations, accounting, business support, financial planning and analysis, real estate, internal audit and tax functions. He first joined Apple in 2013 and became CFO one year later. Prior to Apple, Maestri was CFO and executive vice president for Xerox. He was also CFO for General Motors for 20 years.

2. Deirdre O’Brien

Senior Vice President, Retail and People

Total Compensation: $27,020,800

Apple executive Deirdre O’Brien generated $21,959,600 in stock awards in 2021 on top of a $1 million base salary. She received an additional $4 million from Apple’s non-equity incentive plan that is tied to internal performance targets.

In 2021, O’Brien received a total of $27,020,800, up from $26,272,400 in 2020.

As one of Apple’s longest-serving employees, O’Brien is responsible for Apple’s entire retail and online teams as well as the company’s People team, which involves helping Apple connect, develop and care for its employees. She first joined the company in 1988, taking the senior vice president of retail and people role in 2019.

1. Tim Cook

CEO

Total Compensation: $98,734,400

It is little surprise that CEO Tim Cook was Apple’s highest-paid executive in 2021. However, Cook’s total compensation of nearly $99 million was more than triple that of any other executive in the company due to his massive stock award.

Cook received a total of $82,347,800 in stock awards last year on top of a $3 million base salary. Apple’s CEO received an additional $12 million from the company’s non-equity incentive plan as well as nearly $1.4 million in other compensation throughout the year including life insurance, security and vacation cash-outs.

In 2021, Cook’s total compensation was $98,734,400—representing a whopping 568 percent increase compared with his $14,769,300 total compensation in 2020.