Disney (DIS) CEO Bob Iger and Facebook (FB) CEO Mark Zuckerberg are also mandated to use private aircraft when traveling, according to the companies' respective regulatory filings. Mr. Cook's pay increase was driven by his cash bonus, which was hinged on exceeding.
Over the path of 2017, expenses on personal air travel of Cook amounted to nearly $93,109 and Apple spent an extra $24,216 in the personal security costs that was provided for Cook.
While executives have been criticized in the past for overzealously flying by private plane, Tim Cook now has no other option.
Cook's total compensation for 2017 jumped to $12.8 million - a roughly 47 percent increase from previous year. It could have made even more this quarter given it coincides with the launch of Apple's anniversary phone, coupled with increased sales this holiday season - analysts said six million iPhone Xs were sold over Black Friday.
The flight policy for Apple's CEO was implemented in 2017 in the interests of security and efficiency based on Cook's highly visible role.
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The market capitalisation for the iPhone maker has been hovering around $US900 billion (more than $A1 trillion) and is up almost 50 per cent for the year. Adding $89.2 million in equity award, Cook brought home a whopping $102 million in 2017, minus compensations.
It's been a good year for Apple and its CEO Tim Cook.
Shareholders who feels like attending the shareholders meeting that will take place in the Apple Park, at Steve Jobs Theatre, requires registering themselves using the Proxyvote.com beginning at 8:00 am on 22 January, 2018.
Apple gave its CEO a salary bump as sales and profit picked up this year. With that said, Apple does make $151 more than Samsung, the next top performer, for every unit sold. That amount also includes Apple stock that vest only if they stay with the company.