Apple (NASDAQ:AAPL) Trims CEO’s 2023 Compensation Target


Apple (NASDAQ: AAPL) CEO Tim Cook’s 2023 compensation target is expected to be $49 million, about 40% lower than the previous year. The base salary and cash portion of his salary will remain unchanged, but the value of his stock awards will be reduced, according to the SEC filing.

In addition, actual salaries become highly dependent on the performance of AAPL stocks throughout the year. This is because the company’s board has increased the percentage of stock units awarded to his CEO based on his performance, from 50% to 75% in 2023.

The sharp cut in CEO compensation is due to shareholder dissatisfaction with the size of Cook’s stock compensation in 2022 and 2021. According to reports, Cook’s total compensation in 2022 was $99.4 million, of which his $83 million came from bonuses and stock compensation.

Is AAPL a purchase?

Apple’s strong buy consensus rating is underpinned by 22 buys and 5 holds. An average AAPL share price target of $174.29 implies a 30.6% upside potential.

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