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Apple’s (NASDAQ:AAPL) Compensation Committee approved changes to CEO Tim Cook’s compensation. Cook’s 2023 target total compensation is $49 million, representing a reduction of over 40% from his 2022 target total compensation.
The percentage of performance-based RSUs granted to Mr. Cook was increased from 50% to 75% of his 2023 target equity award and the percentage of his performance-based RSUs will be at least 75% of his target equity awards for future years.
Shares of Apple stock fell 27% last year.
