Apple is the most valuable company on the planet. And CEO Tim Cook stands to receive nearly $100 million in compensation for 2021. But one influential shareholder rights group has some issues with Cook getting that big of a payday.
New York Apple is the most valuable company on the planet. And as a reward for the iPhone maker's success, CEO Tim Cook stands to receive nearly $100 million in compensation for 2021.
But one influential shareholder rights group has some issues with Cook getting that big of a payday.Institutional Shareholder Services said in a report Wednesday that"there are significant concerns regarding the design and magnitude" of the amount of stock Cook is being awarded. As a result, ISS is recommending that investors vote against a proposal to ratify Cook's compensation at Apple's March 4 shareholder meeting.
Tim Cook became CEO of Apple 10 years ago. Watch how CNN covered it 02:45Apple had no comment on the ISS report. But it's worth noting that another shareholder advisory firm, Glass Lewis, has backed the proposal. And Apple also noted in its proxy statement that Cook's stock award is the first he's received since he became CEO shortly before Steve Jobs died in 2011. "It has been a remarkable decade for Apple," the company said in the proxy statement.
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