Â鶹´«Ã½

Business

    • Apple CEO Tim Cook to take more than 40 per cent pay cut

    Share

    Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.

    Apple Inc. said in a regulatory filing late Thursday that Cook's target total compensation is US$49 million for 2023, with a US$3 million salary, US$6 million cash incentive and US$40 million in equity awards.

    Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voting in favor of the executive pay package and 3.44 billion against. There were also abstentions and broker non-votes.

    Apple said its compensation committee took into account shareholder feedback, the company's performance and a recommendation from Cook, who was promoted to CEO in 2011, to adjust his compensation in light of the feedback received.

    Apple said last year it sought feedback from shareholders about compensation and it received "overwhelming support for Mr. Cook's exceptional leadership and the unprecedented value he has delivered for shareholders....Those shareholders we spoke with that did not support our 2022 Say on Pay proposal consistently cited the size and structure of the 2021 and 2022 equity awards granted to Mr. Cook as the primary reason for their voting decision," the company said.

    Cook has received a US$3 million base salary for the past three years, but his total compensation -- which includes the restricted awards -- jumped from US$14.8 million in 2020 to US$98.7 million in 2021 and US$99.4 million in 2022.

    Apple said Cook supported the changes to his compensation.

    The company plans to position Cook's annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.

    The company will hold its annual meeting March 10.

    In midday trading, Apple shares edged down to US$133. The stock has declined about 23% in the past year.

    CTVNews.ca Top Stories

    A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    Canada

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.

    • The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    World

    Politics

    • Murray Sinclair’s family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale—Langley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    • The Edmonton Oilers may have found the break they were looking for.

    • Winnipeg Jets goaltender Connor Hellebuyck, Colorado Avalanche centre Nathan MacKinnon and Buffalo Sabres goaltender Ukko-Pekka Luukkonen have been named the NHL's three stars of the week.

    Autos

    Local Spotlight

    For the second year in a row, the ‘Gift-a-Family’ campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • LIVE

      LIVE

      Thousands of people are gathered in downtown Vancouver to observe the city’s 100th Remembrance Day ceremony.

    • A suspect was arrested for allegedly brandishing a knife outside a Vancouver elementary school on Friday – just as the young students were heading home for the day.

    • The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.

    • Several hundred people gathered outside the Ontario legislature in Toronto to honour veterans and remember those who died fighting for their country.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift’s upcoming Eras Tour, which will be making a stop in Canada’s largest city for a six-show run later this month.

    • A man believed to be in his 40s has been rushed to a trauma centre following a stabbing in downtown Toronto.

    • Calgarians will be observing Remembrance Day at a number of different ceremonies across the city, including at the Hangar Flight Museum.

    • July 2025 may seem like it’s in the distant future, but for the St. Luke playground committee time is ticking to fundraise the $340,000 they still need to build a new playground.

    • Getting out to the mountains is even easier with a new bus route from a growing Germany-based service.

    • Crowds gathered in Ottawa and eastern Ontario on Monday to honour the sacrifice of men and women in uniform who gave their lives in service of Canada.

    • The Fleet Street Pumping station is Ottawa's oldest water facility. Up to two-thirds of the city's water supply can move through it,

    • The company confirms it will open the new Chipotle at 5671 Hazeldean Road on Thursday, in the former location of Benny & Co.

    • A 36-year-old Montreal man who was out on bail after allegedly uttering death threats to a woman is now accused of murdering her on the South Shore.

    • With fewer interments and rising maintenance fees, the money for Canada's largest military cemetery will run out in three to four years.

    • Montreal Metro passengers can now flag a safety concern by texting a new phone number launched by the STM.

    • A member of Canadian Forces Base (CFB) Edmonton participated in the national Remembrance Day Ceremony in Ottawa on Monday.

    • WEATHER

      WEATHER

      This is shaping up to be one of the warmest Remembrance Days in the past decade, at least, for temperatures.

    • Thousands of Maritimers turned out in wet weather Monday to remember those who have served, and continue to serve, in Canada's armed forces for Remembrance Day.

    • A Cape Breton senior recalls her life in German-occupied France, and her mother’s death, during the Second World War.

    • Thousand of people gathered at the Menin Gate in the Ypres, Belgium for Monday’s Remembrance Day Ceremony.

    • Remembrance Day is today, and a number of ceremonies are taking place around the province to honour those who gave their lives to serve our country.

    • A pillar in Canada’s history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • One Manitoba veteran is on a mission to commemorate and honour those who served our country, and not just on Remembrance Day.

    • There will be two ceremonies taking place in Regina for Remembrance Day, hosted by the Royal Canadian Legion.

    • Fire crews reported that no one was hurt after flames broke out in a home on Robinson Street in central Regina.

    • Regina author Valerie Crowther is celebrating the release of her book ‘War Letters: Linking Lives in the Second World War.’

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.

    • A Barrie man is at the centre of an alleged $2.2 million stolen used car scheme.

    • The 75th anniversary of the Barrie Santa Claus Parade will feature floats, live entertainment, and new attractions, including Santa’s Fireside Gathering.

    • Environment Canada issued a weather alert for Barrie, Collingwood and surrounding areas, alerting residents about the wicked winds that are expected to pick up to 80 kilometres per hour in the afternoon hours.

    • Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.

    • Windsor Paralympic champion, Danielle Campo, has been crowned the number one Inspirational Speaker of the Year for 2024 at the Inspirational Speaking Finals.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year’s host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.

    • Police say that a 16-year-old was attacked with a sword Nov. 3 in Cobalt, Ont., in a case of intimate partner violence.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.

    Stay Connected
    Follow Â鶹´«Ã½