Apple Requires CEO Cook to Hold 10 Times Salary in Stock
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Apple Inc. is requiring executives to hold more stock as a multiple of their salary, amid pressure from investors to more closely link pay to equity performance as slowing growth batters the shares.
Chief Executive Officer Tim Cook will be required to hold 10 times his base salary in shares, and other senior executive officers must own triple their base salary in stock, according to ownership guidelines that took effect Feb. 6 and are posted on the company’s website. Non-employee directors need to hold five times their annual retainer in stock.