Apple Investors Approve Executive Compensation Package

Deep News01:10

According to preliminary vote tallies, shareholders of Apple have voted to approve the company's latest executive compensation plan. The iPhone maker announced the result during its virtual annual shareholder meeting held on Tuesday. The meeting was presided over by Apple CEO Tim Cook and the outgoing General Counsel, Kate Adams, who delivered the opening remarks, while Cook outlined the company's operational status.

Prior to the meeting, Apple had requested shareholder approval for proposals related to executive compensation and the board of directors, and also sought confirmation of Ernst & Young as the company's independent auditor.

Apple shareholders typically vote in line with the company's recommendations. However, in 2022, they went against the company's advice by approving third-party proposals related to confidentiality clauses in employment agreements and a civil rights audit.

In early January, Apple disclosed that Tim Cook's total compensation for the previous year amounted to approximately $74 million, a figure roughly consistent with the year before.

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