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

April 8 (Bloomberg) -- 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.

To contact the reporter on this story: Dan Hart in Washington at dahart@bloomberg.net.

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net.

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