Tim Cook earned $10.3 million in 2015

tim-cook-apple-ceoAs shareholders saw Apple’s value plummet in 2015, they will no doubt be relieved to see that the company’s CEO, Tim Cook earned $10.3 million for his efforts.

As far as Apple is concerned, Cook did extremely well during a trying time.  Despite not having a product that was noticeably different from previous years, having its “game changing” tablet disappear, entry into the wearable and television market being a disaster and leaning on a smartphone when no one wanted them any more, Cook made the company profits rise by 35 percent.

This meant that his money rose 11.5 percent to $10.3 million in 2015. The company shares fell for the first time since 2008 and are now below $100 each.

To be fair Cook was the lowest-paid of the company’s top executives. Chief Financial Officer Luca Maestri’s annual compensation rose about 81 percent to $25.3 million in 2015.  Angela Ahrendts, the senior vice president for retail and online stores, was the highest paid, with a total pay package of $25.8 million

Cook’s base pay increased about 14.4 percent to $2 million last year, while non-equity incentive compensation rose about 19 percent to $8 million, according to a regulatory filing.

The Tame Apple Press is claiming that Apple’s senior executives are worth every penny and shareholders have nothing to worry about.  The fact that shares are falling because no one wants to buy the iPhone 6s is nothing to worry about, apparently.

Remember that Cook suffers too if the share price goes down. He holds 3.1 million Apple shares that have not vested yet.

The shares are expected to vest between August 2016 and August 2021.