Record-Breaking Performance... Tim Cook Receives 140 Billion Won Stock Compensation

(Source: AFP News Agency)

[Asia Economy Reporter Yujin Cho] Apple CEO Tim Cook, who posted record quarterly sales, will receive stock compensation worth $125.86 million (approximately 140 billion KRW).

According to US CNBC on the 23rd (local time), shareholders attending the general meeting approved the compensation plan for CEO Tim Cook and other executives. Accordingly, CEO Tim Cook will be granted 1 million new shares.

Based on the closing price of the New York Stock Exchange on that day, the value of 1 million Apple shares amounts to $125.86 million (approximately 140 billion KRW).

CNBC reported that this decision reflects shareholders' satisfaction with Apple's management. According to Apple's board, the shareholder return including dividends since Cook's appointment in 2011 until last year reached 867%.

Apple plans to increase shareholder dividends in the future. Over the past four quarters, Apple has paid a total dividend of $14 billion. The dividend paid during the second quarter was $0.205 per share.

Regarding the recently raised App Store regulatory issues during the Q&A with shareholders, CEO Cook responded, "Apple does not hold a monopoly," and added, "If a reasonable investigation is conducted, such accusations will disappear."

On corporate acquisition strategy, he explained, "We have acquired 100 companies over the past six years. This means acquiring one company every 3 to 4 weeks, mostly aiming to secure technology and talent."

Thanks to increased sales of the new product 'iPhone 12,' Apple recorded quarterly revenue of $111.4 billion in the fourth quarter of last year, surpassing $100 billion for the first time on a quarterly basis.

Net profit rose 29% to $28.76 billion, and earnings per share (EPS) were $1.68, significantly exceeding the Wall Street analysts' average estimate of $1.41 compiled by financial information firm FactSet.

This content was produced with the assistance of AI translation services.