But then in fiscal year 2017, Apple saw a major rebound across almost all of its categories.
During 2017 Tim Cook's personal security costs were calculated at nearly half a million dollars, ($224,216.00), alongside a $93,109 bill for traveling on private jets for non-business trips.
As the head of the world's most valuable company, Mr Cook is also now forced to use private planes to travel for both business and personal purposes. Cook must use an Apple private jet whenever he travels, whether it is for work or pleasure.
Just to put it in perspective: Apple's stock (NASDAQ: AAPL) started off the year at around $116.15 per share (at market close on January 3, 2017), but are now up about 39 percent (at $170.55 per share) as of Thursday, December 28th at 3:15 pm EST.
Cook's pay increase in the company's 2017 fiscal year came mostly from cash bonuses, adding about $9.3 million to Cook's roughly $3 million annual salary. He's still actually the lowest paid among his executive team, who all make around $24 million a year.
Apple CEO Tim Cook got a big raise in 2017, thanks in large part better-than-expected sales at the consumer electronic company. That brings Cook's total compensation for 2017 to a whopping $102 million.
While better sales is good news for Apple, which saw sales decline for the first time past year, the company thought it also means Cook's security could be at risk. 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.
For the first time, Cook ran up a $93,109 bill for travelling on private aircraft on non-business-related trips.
Cook, along with other Apple board directors such as Disney CEO Bob Iger, former U.S. Vice President Al Gore, and former Northrop Grumman CEO Ron Sugar, are up for election to remain in the board another year.
The proxy filing to the SEC comes as Apple announced it would be holding its annual share holder meeting on 13 February at the Steve Jobs Theatre, where it also launched the iPhone X. In addition to this is the personal security cost which can be rounded off to around $224,216.