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Apple CEO gets modest pay bump after big year

Apple CEO Tim Cook got a relatively modest $4.2 million in pay for the latest fiscal year, after the company's board set him up with stock now worth $510 million for taking the reins in 2011.

By Peter Svensson | Updated on December 27, 2012
Apple CEO Tim Cook soeaks during an introduction of the new iPhone 5 in San Francisco. (AP Photo/Eric Risberg, File)

NEW YORK (AP) — Apple CEO Tim Cook got a relatively modest $4.2 million in pay for the latest fiscal year, after the company’s board set him up with stock now worth $510 million for taking the reins in 2011.

Cook’s pay for fiscal 2012, which ended in September, consisted of $1.4 million in salary, a bonus of $2.8 million, and $17,000 in company contributions to his 401(k) account and life insurance premiums, according to a filing.

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