Apple Investors Urged to Vote Against CEO Tim Cook's $100 Million Pay Package: 'There Are Significant Concerns' Cook's pay was 1,447 times that of the average Apple employee.

By Amanda Breen

With a market capitalization of $2.8 trillion, Apple is the most valuable company in the world — one Warren Buffett made upwards of $120 billion on at one point. Now, the iPhone maker's CEO, Tim Cook, is on track to see a giant payday for his efforts: a nearly $100 million compensation package for 2021. But the Instituional Shareholder Services (ISS), an influential shareholder rights group, might stand in his way.

Per CNN, the ISS released a report on Wendesday stating "there are significant concerns regarding the design and magnitude" of Cook's massive potential stock award. The ISS is suggesting that investors vote to reject the compensation proposal at the company's March 4 shareholder meeting.

Earlier this year, Apple disclosed in a proxy filing with the Securities and Exchange Commission (SEC) that Cook is expected to receive $82.3 million in stock awards in addition to his $3 million annual salary and other compensation, for a $98.7 million package total — up from $14.8 million in 2020.

Related: Apple CEO Tim Cook Gets Apple Stock Worth $750 Million

According to the ISS, "half of the award lacks performance criteria." The ISS is also concerned that Apple didn't provide information about the compensation package's potential post-2021 awards. "Given that CEO Cook will be eligible for retirement treatment after one year from the grant date, the retentive value of the award is limited," ISS said. Cook's award would also continue to vest in full in the event of his retirement.

Cook's pay was 1,447 times that of the average Apple employee, per a filing released in January. In a proxy statement, the company said Cook's stock award is the first he's been given since he assumed his position just before Steve Jobs's death in 2011.

It's rare for shareholders to vote against proposals that a company endorses. In 2021, investors rejected executive compensation packages at Intel, General Electric and AT&T. For the most part, however, these moves are symbolic, as boards do not actually have to alter the rejected payout plans.

Related: Lessons in Persuasion From Apple CEO Tim Cook

According to Forbes, Cook's current net worth sits at $2.3 billion.

Wavy Line
Amanda Breen

Entrepreneur Staff

Features Writer

Amanda Breen is a features writer at She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

Uber Eats Deliveries Are Flooding a Los Angeles Neighborhood — Except No One Knows Who Placed the Orders

Residents of L.A.'s Highland Park neighborhood are once again the target of dozens of unsolicited Uber Eats orders. The "annoying and somewhat disturbing" mystery is gripping the city.

Growing a Business

The Human Side of Business Scaling — Why Employee Well-Being, Team Cohesion and Company Values Must Be Prioritized

Let's explore the potential pitfalls of neglecting employee well-being, team cohesion and company values as you scale — and a few strategies to prioritize each.

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Business News

'I've Got the Bug for Business': See All of Mark Wahlberg's Entrepreneurial Endeavors, From Marky Mark and the Funky Bunch to Wahlburgers

Mark Wahlberg owns businesses in several categories, including entertainment production, apparel, fitness, and nutrition.

Growing a Business

How to Grow Your Business With Social Media

Miriam Fried, owner of MF Strong, shares why a solid online presence, including social media and Yelp, is important for starting a business and achieving continued growth.

Business News

Gamestop Suddenly Fires CEO, New Chairman Posts Cryptic Tweet Hours Before Announcement

Shares of the electronics retailer plummeted up to 20% early Thursday.