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Apple’s Cook Highest-Paid CEO as Pay Gains, NYT Reports

Apple Inc.’s Tim Cook was the highest-paid chief executive officer in the U.S. last year as compensation gained 2 percent overall from 2010, the New York Times reported.

Cook received about $378 million, which includes salary, perks and bonuses ($1.8 million) and a one-time stock award ($376.2 million), that extends over 10 years. One-half of the award vests in 2016 and the other in 2021, the newspaper said. Larry Ellison of Oracle Corp. was second with $77.6 million, followed by J.C. Penney Co.’s Ronald Johnson, at $53.3 million, the Times said.

The median total compensation for U.S. CEOs rose to $14.4 million, the newspaper said, citing the survey by executive compensation tracker Equilar.

Viacom Inc.’s Philippe Dauman, who was No. 1 in the survey last year, was fourth this year with $43.1 million, followed by Honeywell International Inc.’s David Cote, who received $35.3 million, the Times said. Stephen Chazen of Occidental Petroleum Corp. was paid $31.7 million and was sixth, the newspaper said.

Seventh through 10th, respectively, were Robert Iger, Walt Disney Co., $31.4 million; Clarence Cazalot Jr., Marathon Oil Corp., $29.9 million; Alan Mulally, Ford Motor Co., $29.5 million; and Rupert Murdoch, News Corp., $29.4 million.

Equilar’s study for the newspaper covered the 100 most compensated executives at public companies with annual revenue of more than $5 billion and had filed proxy statements by March 30, the Times said.

Equilar analyzed base salaries, cash bonuses, perks, stock awards and stock options for the newspaper.

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