Apple Inc. Allegedly Paid Tim Cook, Other Executives Too Much

Apple Inc. miscalculated the values of performance-based stock compensation for CEO Tim Cook and other executive officers, an institutional investor alleges in advance of an upcoming stockholder vote.

Instead of awarding $77.5 million for several executives per fiscal year, Apple awarded about $92.7 million in restricted stock units for FY 2021 and about $94 million in FY 2022, according to the investor, an International Brotherhood of Teamsters pension fund.

“For fiscal 2023, it appears that Apple intended to award $70 million in performance-based RSU awards to these executives, and again it appears to have awarded more RSUs than intended, but ...