Apple CEO Cook's total compensation will reach $99.4 million in 2022 and will be halved in 2023.

CTOnews.com, January 13 (Xinhua)-- Apple CEO Tim Cook will receive a total compensation of $99.4 million (currently about 673 million yuan) in 2022, according to a filing released today by the Securities and Exchange Commission.

His salary includes a salary of $3 million, a stock award of about $83 million and other forms of compensation of $13.4 million. By comparison, Cook's total compensation in 2021 was $98.7 million (currently about 668 million yuan).

As Bloomberg's Mark Gurman points out, Cook will have a big pay cut in 2023. CTOnews.com has learned that, based on shareholder feedback and Cook's own support for the change, documents show that his target compensation for 2023 is $49 million (currently about 332 million yuan), less than half of his total compensation in 2022.

According to previously released financial information, Apple's revenue for the entire 2022 fiscal year (October 2021 to September 2022) was $394.328 billion (currently about 2.67 trillion yuan), up 8 per cent from $365.817 billion in fiscal 2021. Apple's net profit in fiscal 2022 was $99.803 billion (currently about 675.666 billion yuan), compared with $94.68 billion in fiscal 2021.