Tim Cook earned $9.2 million for his work as Apple's chief executive last year, according to documents released Thursday by the Cupertino, California, company. Cook's 2014 was more than twice the $4.3 million he made the year prior.
Apple paid its CEO $1.7 million in salary and the rest in various forms of compensation, according to the company's proxy. The documents also showed that Apple paid nearly $700,000 in security to keep Cook safe at all times.
"Although the Company does not consider it to be a perquisite for his benefit, the Company provides home and personal security for Mr. Cook because his personal safety and security are of the utmost importance to the Company and its shareholders," the documents said. "The Company considers the security measures to be a reasonable and necessary expense for the benefit of the Company."
Cook justified his huge bump in pay by notching one of Apple's best years since the death of co-founder Steve Jobs in 2011. Apple stock price increased 46.1 percent throughout its fiscal 2014 while Cook led the company to introduce several new products, most notably the iPhone 6 and iPhone 6 Plus. Those devices sold more than 10 million units in their first weekend, setting a company record. Additionally, Cook also unveiled the Apple Watch, a smartwatch that is supposed to go on sale sometime this year. It will be the first new product line introduced under Cook's watch.
Personally, Cook also had a banner year. The 54-year-old became the first openly gay Fortune 500 CEO and was included on Time magazine's shortlist for their 2014 Person of the Year distinction.