Tim Cook
About
Tim Cook is recognized as a values-driven leader with a strong foundation in operations and supply chain management gained from his early roles at companies such as IBM, Intelligent Electronics, and Compaq. His experience in these roles laid the groundwork for a disciplined approach to business and innovation that would later define his career at a leading technology company.
Over the years, his progressive promotions and responsibility increases have been instrumental in streamlining a complex global supply chain and enhancing operational efficiency. His leadership has not only driven significant improvements in product development and market expansion but also set new standards for profitability and corporate performance.
Outside the day-to-day responsibilities at Apple, he has broadened his influence through board memberships and philanthropic initiatives, emphasizing corporate social responsibility, privacy, security, and sustainability. These endeavors underscore a commitment to ethical business practices and have cemented his reputation as a forward-thinking executive in the global business community.
$AAPL Performance Under Tim Cook
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Apple Inc. | Chief Operating Officer (COO) | October 2005 to 2011 | Became CEO in 2011 |
| Apple Inc. | Executive Vice President, Worldwide Sales and Operations | February 2002 to October 2005 | N/A |
| Apple Inc. | Senior Vice President, Worldwide Operations, Sales, Service, and Support | October 2000 to February 2002 | N/A |
| Apple Inc. | Senior Vice President, Worldwide Operations | March 1998 to October 2000 | N/A |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| NIKE, Inc. | Board of Directors | N/A | N/A |
| Duke University | Board of Trustees | N/A | N/A |
| Malala Fund | Leadership Council | N/A | N/A |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $3,000,000 | Annually | Remained unchanged since 2016 |
| All Other Compensation | $1,520,856 | Annually | Various forms of compensation not detailed further |
Performance Compensation
Cash Incentive Plan Opportunity
| Metric | Value |
|---|---|
| Threshold | $3,000,000 (50% of target) |
| Target | $6,000,000 (100% of target) |
| Maximum | $12,000,000 (200% of target) |
| Metrics | Net sales and operating income, equally weighted |
| Performance | 200% payout achieved as financial results exceeded targets |
| Conditions | No payout below threshold; linear interpolation between levels |
| Modifier | Up to ±10%; not applied since max payout reached |
| Evaluation Period | Calendar year 2024 |
Equity Awards
| Metric | Value |
|---|---|
| Performance Metric | Relative Total Shareholder Return (TSR) compared to S&P 500 |
| Threshold | 25th percentile (25% of target RSUs vest) |
| Target | 55th percentile (100% of target RSUs vest) |
| Maximum | 85th percentile (200% of target RSUs vest) |
| Grant Date | October 1, 2023 |
| Performance-Based RSUs | 219,030 RSUs; Fair Value: $45,588,904 |
| Time-Based RSUs | 73,010 RSUs; Fair Value: $12,500,042 |
| Vesting Schedule | Time-Based: Three equal annual installments over ~4.5 years; Performance-Based: vest on October 1, 2026 |
| Valuation Model | Monte-Carlo model used for performance RSUs; closing stock price based for time-based RSUs |