Apple CEO Tim Cook's total compensation package for 2017 is $102…

Tim Cook

The equity compensation is composed of shares that vest exclusively based on the executives' continued employment and others tied to the performance of Apple's stock compared with other S&P 500 companies.

Cook's incentive pay totaled US$9.33 million for the year ended September 30, the California-based company said in a regulatory filing on Wednesday. The highest paid executive at Apple is Angela Ahrendts, who makes roughly $24,216,072.

In fiscal year 2017, Tim Cook, the Apple CEO, obtained a salary of $9.33 million in stock and bonuses worth $89.2 million for a gross compensation package of an approximate $102 million, as Bloomberg reports. In 2016, Apple suffered shrinking iPhone sales and its first annual sales decline in 15 years.

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In its most recent quarterly earnings, Apple said iPhone sales rose 2 percent, its China business grew 12 percent, and its services sector - including Apple Pay, Music, App Store and iCloud - soared 34 percent higher than the same period a year earlier.

In the filing, the board also submitted the slate of eight nominees for reelection: Cook, Disney CEO Bob Iger, Al Gore, James Bell, Andrea Jung, Art Levinson, Ron Sugar, and Sue Wagner.

Most of his payment was in the form of non-equity incentive plan compensation, which is essentially a cash bonus for top executives.

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Apple CEO Tim Cook chats with attendees of the iPhone X event. Apple notes that Cook added $93,109 in personal travel costs for the company, "based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees". In 2017, it was nearly identical, at $224,216, but included the addition of personal air travel expenses in the amount of $93,109.

"This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook's role as CEO", the company wrote in the filing with the Securities and Exchange Commission. So the iPhone maker now wants Cook to fly private for "all business and personal travel", it said in the filing.

The election is set to occur on Apple's next shareholders meeting February 13 at the Steve Jobs Theater in Apple Park. Mr. Cook recognizes imputed taxable income and is not provided a tax reimbursement for personal use of private aircraft.

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