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Apple CEO Tim Cook will voluntarily take a pay cut this year, if shareholders approve at the upcoming Apple Investor Day held on March 10.
Cook’s reduced compensation is one of several proposals put forth in a proxy statement for shareholders ahead of Investor Day. It notes that Apple’s CEO supports the move to drop his combined salary and expected compensation to $49 million in 2023, down from $99 million last year. Aside from $9 million in base salary and cash incentives, the rest of that compensation is in equity that’s tied to performance — Cook actually made $15 million above his target pay in 2022 given how well the company did in sales and income.
