Apple Inc. disclosed a 18% pay increase for Chief Executive Officer Tim Cook ahead of its annual meeting next month, while also saying it opposed a shareholder measure calling for an end to the company’s diversity program.

Apple CEO Tim Cook collected a total compensation package of $74.6 million in 2024, up from $63.2 million in 2023. The total amount, which includes $3 million in salary and $58.1 million in stock awards,

Cook’s base salary of $3 million has remained unchanged in the past three years, but his total compensation increased 18% in 2023, the technology giant said.

CEO Tim Cook's year-over-year total compensation will increase by $10M for 2024, contingent on how shareholders vote at next month's annual meeting, according to an SEC filing on Friday. Cook's total target CEO compensation was $59M.

Tim Cook also received $1.5 million for additional benefits, including retirement contributions, life insurance, vacation payouts, security and personal air travel expenses.