The Guardian reports that an advisory group of investors has called on Apple shareholders to vote against paying CEO Tim Cook a $99 million fee. According to Bloomberg, Apple tops the list of the most valuable companies in the world with a market capitalization of $2.8 trillion.

The $99 million compensation Cook is to receive includes his salary ($3 million), stock ($82 million), bonus ($12 million), aircraft and security costs ($1.33 million).

The consulting firm Institutional Shareholder Services writes that in 2021 Cook had significant concerns about the size of the share award. Investors believe that half of the planned payout is independent of the CEO's performance criteria.

Forbes reports that Cook's personal fortune as of February 18 is $ 2.3 billion. He has repeatedly criticized social and economic inequality.

Cook's total income for 2021 was $98.7 million, up from $14.8 million a year earlier. According to Apple documents released in January, Cook's salary exceeded the earnings of the average corporate employee by more than 1.4 thousand times.

At the beginning of 2022, Apple's capitalization exceeded $3 trillion, making it the first company to achieve this value. In August 2020, the corporation passed the $2 trillion threshold, although in June alone its market value was $1.5 trillion. In addition to Apple, the $1 trillion capitalization limit was overcome by Microsoft ($2.5 trillion), Alphabet ($1.96 trillion), Amazon ($1.7 trillion) and Tesla ($1.2 trillion).

The Guardian writes that Apple has so far managed to avoid a collapse in the value of shares, unlike Meta (formerly Facebook) and Netflix. In January, Apple released a report on financial results for the fourth quarter of last year. The company posted a record profit of $123.9 billion, up 11% from the same period in 2020.

The vote against the payment of $99 million to Cook will be advisory in nature. The Apple Board will determine how to proceed in this situation.

bbabo.Net