Apple didn’t have a great year in 2015 but that didn’t stop the company’s top executives from earning a boat load of money.
CEO Tim Cook earned $10.3 million in 2015, making him by far the highest-paid executive at the tech giant.
Cook’s base salary was $2 million, plus $8 million in cash incentives. The package was topped off with $280,000 in various payments, including $53,846 in vacation “cash out” payments and a maximum allowed $15,900 in 401(k) contributions.
Cook earned $9.2 million in 2014 or nearly 90% of his 2015 compensation.
CFO Luca Maestri, retail guru Angela Ahrendts, general counsel Bruce Sewell and product chiefs Dan Riccio and Eddy Cue each earned more than $25 million.
Each of those executives earned $1 million in salary and an equal $20 million in stock awards and $4 million in cash incentive payments.
With the exception of Ahrendts, those executives all earned more in 2015 than they did in 2014.
Tim Cook’s big payday comes in the form of Apple Stock. In 2015 millions of his previous stock awards vested.
Cook still has more than $500 million worth of stock awards from that package that have not yet vested.
Cook’s pay package was valued at $378 million when he became Apple’s CEO.
Apple’s shares are down 10% over the past three months and closed at $100.70 on Wednesday.