MBW has discovered exactly how much Apple paid its key employees last year.
Mr Apple Music, Eddy Cue, received a $1m salary, plus $4m in non-equity (cash) incentive compensation.
In addition, Cue received a whopping $20m in Apple stock awards.
Apple CEO, Tim Cook, meanwhile, took home $10.281m in total – including a $2m salary plus $8m in non-equity incentive compensation.
As you can see below from Apple’s SEC filing, Cook didn’t receive any new stock awards, despite Apple posting $224bn in sales during the year.
Interesting to note, then, that reports place the annual compensation of the likes of Doug Morris and Lucian Grainge comfortably in excess of $10m.
According to a Hollywood Reporter report from four years ago, Universal Music Group paid Chairman and CEO Grainge $16.3m in 2011
The British exec last year signed a new five-year contract at UMG.
And according to the New York Post, Sony Music CEO & Chairman Doug Morris reportedly put pen to paper on a two-year deal in 2015 that would see him paid up to $20m a year, with $17m per annum guaranteed – although a Sony rep called the numbers “untrue and false”.
Even as far back as 2005, Morris earned $18m as boss of Universal, according to another NYP report.
That said, Tim Cook’s hardly a pauper: according to Apple’s filing, he finally got his hands on previously-received stock awards during 2015 worth around $58m – ‘vested’ shares.
Cue received $38m-worth of these vested shares.
In addition, Cook’s got the small matter of a further $353m-worth of Apple stock coming his way in the near future, so long as he remains CEO (see below).
You can read the full Apple SEC filing through this link.
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