CUPERTINO, Calif. (AP) — Apple CEO Timothy Cook received acompensation package valued at nearly
$4.3 million this year, upslightly from 2012.Cook’s pay for fiscal 2013, which ended inSeptember, consisted
of $1.4 million in salary and a bonus of $2.8million, according to a regulatory filing Friday. Cook’s
compensationalso includes $52,721 in company contributions to his 401(k) account,life insurance premiums and
a vacation cash-out.The year’s paywas relatively modest compared with 2011, when he took the company’shelm.
That year, Apple’s board set him up with a sign-on grant of 1million shares, and his total compensation
amounted to $378 million. In2012, Cook’s compensation package was $4.2 million, according to thefiling.Apple
itself faced some challenges in the fiscal year. Itclosed with a nearly 25 percent decline in market value,
or about $160billion. Still, it remains the world’s most valued company as measuredby market
capitalization.Apple’s earnings have been shrinkingalong with its share of the smartphone and tablet market
it reshapedwith the 2007 release of the first iPhone and the 2010 introduction ofthe iPad.Since then, the
company has not released anotherbreakthrough device in a new category. That’s raised questions aboutApple’s
ability to innovate after the death of its co-founder and chiefvisionary, Steve Jobs, two years ago.Apple’s
fourth-quarterresults, reported in October, marked the third consecutive quarter thatthe company’s earnings
had fallen compared with a year earlier.Apple,whose annual shareholder meeting is scheduled for Feb. 28,
also said inthe filing that activist investor Carl Icahn plans a shareholderproposal that would commit the
company to repurchasing at least $50billion of its stock during fiscal 2014. The company is recommendingthat
its shareholders vote against the proposal.Copyright 2013 The Associated Press. All rightsreserved. This
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