Acook1
Tim Cook, CEO of Apple, visits an Apple Store where third-grade children are learning how to code through Apple’s “Hour of Code” workshop program, Dec. 9, 2015, in New York City. Andrew Burton/Getty Images

Apple Inc Chief Executive Tim Cook's compensation rose 11.5 percent to $10.3 million in 2015, a year when the company had a rocky ride due to fears of slowing shipments of its new iPhone models.

Cook's base pay increased about 14.4 percent to $2 million last year, while non-equity incentive compensation rose about 19 percent to $8 million, according to a regulatory filing.

Chief Financial Officer Luca Maestri's annual compensation rose about 81 percent to $25.3 million in 2015.

Apple had a good year for the most part under Cook, with its iPhone 6S and 6S Plus setting weekend records and blockbuster China sales.

The company hit a rough patch towards the end of 2015, with shares falling about 4.6 percent for the year, the stock's first negative year since the global credit crisis.

As of Sept. 26, Cook held about 3.1 million Apple shares that have not vested, potentially enabling him to earn over $310 million based on the stock's Wednesday closing price.

The shares are expected to vest between August 2016 and August 2021.

Shares of the world's most valuable company dropped below $100 for the first time in nearly five months on Wednesday before closing at $100.70.

(Reporting By Sudarshan Varadhan and Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

RELATED STORIES