Apple CEO Tim Cook will now fly on Private aircraft even for personal travel for "security and safety reasons", a regulatory filing with the SEC reveals. Separately, his received a massive increase in his annual bonus, thanks to earnings rebound for the company.
"This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as CEO," Apple said in the shareholder proxy statement filed late on Wednesday. "Any time Cook uses an Apple private jet for personal travel, the costs are considered extra compensation, on which he will have to pay taxes," the statement further said.
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