Apple CEO Tim Cook makes 283 times the typical employee
Apple Inc. Chief Executive Tim Cook has a total compensation that is 283 times the median Apple worker's compensation of $55,426, according to a document filed with the Securities and Exchange Commission late Tuesday. Cook's 2018 annual compensation package was $15.7 million, which includes $3 million in cash and $12 million in cash incentives, among other things. Apple also spent $294,082 on private jets for Cook's personal travel; for security reasons the company requires Cook to use a private jet for all business and personal travel. Companies are reporting their CEO pay in comparison to the median worker for the first time because of a 2015 rule mandated by the Dodd-Frank act. Apple stock was down less than 0.1% in after-hours trading and gained 1.9% to $150.72 during regular trading. The S&P 500 index gained 1% Tuesday and the Dow Jones Industrial Average , of which Apple is a component, rose 1.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.