LONDON: Apple spends nearly $700,000 (about £450,000) a year to protect CEO Tim Cook.
Patently Apple pulled the figure from Apple’s Schedule 14A report with the US Securities and Exchange Commission.
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In full, the report said (emphasis ours): “This amount represents: (i) the Company’s contributions to Mr. Cook’s account under its 401(k) plan in the amount of $15,600; (ii) Company-paid term life insurance premiums in the amount of $2,520; (iii) vacation cash-out in the amount of $56,923; and (iv) security expenses in the amount of $699,133.”
But that isn’t actually that much considering how much other tech firms have spent on security for their senior execs in the past. According to a Fortune article, which quotes a 2014 report by Equilar, Amazon spent the most looking after its CEO in 2013. Equilar tracks executive compensation and says Amazon paid out $1.6 million that year on security for Jeff Bezos. During the same period, when Larry Ellison was still CEO of Oracle, the company spent $1.5 million on security for him.
