According to a U.S. Securities and Exchange Commission filing made public this week, Apple's top brass - including CEO, Tim Cook; CFO, Luca Maestri; Chief Counsel, Bruce Sewell, and others - received substantial compensation packages in 2017, following what was arguably one of Apple's most successful years in business on record.
His pay jumped 47% to $12.8M, up from $8.7M in 2016.
In integration to covering compensation of the executive, statement of today's proxy also states that board of Apple now needs Tim Cook; Apple CEO to use private aircraft for all kinds of business and even personal travels. He has been told by the company to do so following security concerns.
Cook's personal security costs also totalled $US224,216, ($A287,702) according to the filing.
The head of the world's most valuable company has stopped flying commercial. Separately, his received a massive increase in his annual bonus, thanks to earnings rebound for the company.
While better sales is good news for Apple, which saw sales decline for the first time past year, the company thought it also means Cook's security could be at risk. Mr. Cook recognizes imputed taxable income and is not provided a tax reimbursement for personal use of private aircraft.
However, Cook is also sitting on a pile of Apple stock.
Apart from Cook, other top executives did receive a pay raise as well. Including that amount, Cook's total pay for the year topped $100 million.
On Wednesday, Apple, in the shareholder proxy statement, said, "This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as CEO". Cook ended up spending around $93,109 on personal air travel this year.
Cook's predecessor, the founder of Apple Steve Jobs had his own private jet that was gifted to him during 2000 by Apple.