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Apple's CEO since 2011 saw his salary rise to about $12.8 million in fiscal year 2017, which ended in September, from about $8.7 million in the prior fiscal year, according to a SEC filing from Apple on Wednesday. In 2016, missed targets meant Apple execs got only 89.5 per cent of their potential cash incentive payouts for the year. Apart from the salary, he received United States dollars 89.2 million in equity award.

Just like Cook, other Apple executives can also use the private jets when required.

As an additional security measure for Mr. Cook, the Board also requires that he use private aircraft for all business and personal travel.

Camera IconApple CEO Tim Cook tests out a new iPhone X during a media event at Apple's new headquarters in Cupertino, California.

The market capitalization for the iPhone maker has been hovering around $900 billion and is up almost 50 percent for the year.

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The company bounced back in 2017, spurred on by impressive Watch sales and the release of three new iPhones; its stock performance mirrored Cook's compensation increase, running 47 percent since January 1. The pay increase came from a larger bonus because Apple beat its goals for annual sales and operating profit.

He was also awarded stock worth $89m (£66m), up 74% from past year for a total of roughly $102m (£75m) for his work in 2017 alone. The flight policy was implemented in the interest of efficiency and security in 2017, based on the highly visible role as CEO of Cook.

CFO Luca Maestri, retail VP Angela Ahrendts, hardware engineering VP Dan Riccio, hardware technologies VP Johny Srouji and former counsel Bruce Sewell received bonuses of $3.11 million for a total compensation of $24.2 million each. Including that amount, Cook's total pay for the year topped $100 million. Apple gave a private jet to Steve Jobs in 2000, according to Business Insider.

Apple said transporting the chief executive around the world in 2017 cost more than $93,000 (£69,000) and his personal security costs ran to more than $220,000 (£163,000).


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