Investors Pushed Apple Inc. To Cut The Pay Package Of CEO Tim Cook To Over 40%

Apple Inc. has accepted the request of its Chief Executive Officer Tim Cook to cut his compensation by more than 40% in 2023. He took this step after the company drew criticism from investor forums that Cook’s stock would continue to vest post-retirement.

HIGHLIGHTS

• Tim Cook’s compensation is reduced from $99.4 million to $49 million on his request and demand of investor forums
• Apple Inc. was under criticism from investor forums for rewarding Tim Cook with more stocks

How Much Compensation Was Tim Cook Drawing?

In 2021, Tim Cook’s total pay package was $98.7 million. But Apple Inc. raised his compensation to $99.4 million in 2022. It includes $3 million in base salary, about $83 million in stock awards, and a bonus.

Mr Cook will draw a package of $49 million including the $3 million salary and $6 million bonus, as well as an equity award value of $40 million. His equity award value in 2022 was $75 million. But how much Cook draws as compensation would base on the company’s stock performance.

Cut The Pay Package Of CEO Tim Cook To Over 40%

The 62-year-old CEO has pledged to give away his wealth to charitable causes.

The percentage of stock units awarded to Cook and tied to Apple’s performance would increase to 75% in 2023 from 50%, as well as in future years, said Apple Inc. in a regulatory filing Thursday.

The company said that his latest compensation was based on “balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook. The iPhone maker also plans to “position Mr. Cook’s annual target compensation between the 80th and 90th percentiles relative to their primary peer group for future years.

Why Were Investor Forums Criticizing Mr Cook’s Compensation?

Institutional Shareholder Services complained that Cook’s stock would continue … Read the rest

This Site Is Offering Biggest Discount On iPhone 13 Series

Apple could launch the next generation of the iPhone 14 series alongside the Apple Watch Series 8 today in the ‘Far Out’ event. But the sale of the iPhone 13 series phone is gathering much attention.

HIGHLIGHTS

• iPhone 13 is currently retailing at a discounted price on various e-commerce platforms in India
• E-commerce retailers are offering EMI options for iPhone 13
• iPhone 13 128 GB costs Rs. 69,999

If you are looking for an iPhone, it is the right time to get your phone. iPhone 13 is available on both Amazon and Flipkart at a discounted price. Also, you can check the EMI option on Multipl to make it more affordable.

iPhone 13 On Amazon & Flipkart

iPhone 13 On Amazon & Flipkart

Both the e-commerce giants are offering iPhone 13 with an exchange offer. But Flipkart is offering an additional discount of Rs. 2,000 on HDFC credit cards. But if you want to avail the best exchange offer, you should check both Amazon and Flipkart to get the best value for your phone.

Save Now Buy Later

It is Multipl that is offering the most lucrative offer on iPhone 13. First, you have a discount and second, you have an additional discount of 10% on all Apple products available on the Maple website. A 5% discount is also offered on new to-be-launched items on the Maple website. In total, you get a discount of up to 21% on all Apple products including the iPhone 13.

While Amazon and Flipkart are retailing iPhone 13 at Rs 79,900 or 69,999, Multipl is offering the same phone at Rs 62,910. But you need not pay the entire amount at a time. You have the option of paying into 3-12 EMIs if you create a … Read the rest

Apple Is Fined Over $2 Million For This Reason

Apple will pay a fine of over $2 million for selling iPhones without a charger in Brazil. Also, the government has barred the US tech giant from selling iPhones in Brazil until further notification. In reply, Apple gave the excuse of environmental protection for removing chargers from iPhones.

HIGHLIGHTS

• Apple is barred from doing business in Brazil for selling incomplete product
• Apple said it removed chargers from iPhones for environmental protection
• Brazil trashed the excuse and fined Apple 12.28 million reais

Why Did Brazil Fine Apple?

Apple Is Fined Over $2 Million

Brazil accused Apple of discriminatory practices in selling iPhones and ordered the California-based company to pay 12.28 million reais (nearly $2.4 million) in fine. Apple was selling iPhones without a battery charger. The Brazilian authorities also released an official note barring the sale of iPhone brand smartphones, regardless of model or generation that are not accompanied by a battery charger. The Department of Consumer Protection and Defense of Brazil effectively prohibits the sale of all iPhone 12 and 13 models.

What Are The Discriminatory Practices Apple Is Accused For?

Since December, the Brazilian authorities were investigating Apple for selling iPhone 12s and newer versions without chargers for power outlets. The authorities took the action for “the sale of an incomplete product,” “discrimination against the consumer” and “the transfer of responsibility to third parties”.

The statement read that Apple had been fined earlier for the same but it took no measure to minimize the harm to the consumers and continued to sell the iPhones without chargers. Apple said that the decision to exclude chargers from iPhone sales came from an “environmental commitment.”

How Did Brazil Respond To Apple’s Excuse?

The ministry said that there was no effective demonstration of environmental protection … Read the rest

Attractive Features Of $400 Samsung Galaxy A51 Android Phone

The battle for capturing sub-$500 phone market between Samsung and Apple has just begun. Samsung has just launched the all new Samsung Galaxy A51 at a cost of $400 and this phone looks irresistible.

Display

The Samsung Galaxy A51 isn’t like other budget phones as it sports a massive 6.5” bright and clear screen. Also, the screen has a built-in fingerprint sensor in the display.

Camera

The phone carries a quad-camera setup on the rear. The main camera is a 48-megapixel shooter; there is a ultra-wide-angle camera; a micro camera and a depth sensing camera. Also, it has excellent photo stabilization. The main sensor is capable of digitalize stabilizing pictures and videos.

Processor

The Samsung Galaxy A51 is powered by a quad-core Samsung processor. Here some people could argue that the processor isn’t one from the powerful Snapdragon processors but they should know that it is a budget phone. But the Samsung processor isn’t a cheap piece.

Sacrifices

The phone lacks wireless charging that is available on many phones of this segment. But the excellent thing is that it supports charging via USB-C port. The phone gives a great feeling when touched by its plastic back somehow degrades its look and feel.

Overall review

With Galaxy A51, Samsung has stepped up the price war with Apple that is its biggest competitor. The new Samsung Galaxy A 51 is a great phone but with a slower processor. But you will certainly appreciate its camera department and photo features like image stabilization.

Source: https://bit.ly/2WDzOzCRead the rest