From Nasdaq:

A lawsuit accusing Apple of overpaying executives has been dismissed. Judge Jennifer Rochon said the company followed all pay laws and SEC rules. No evidence was found to support board impropriety. The plaintiff, a pension fund, claims Apple overpaid Tim Cook and four other executives on performance-based stock units. Cook’s pay totaled $99 million in 2021 and 2022, declining to $63.2 million in 2023. Apple has not commented.

The plaintiff argued that the compensation committee miscalculated the stock units’ fair values, misleading shareholders casting say-on-pay votes. Cook’s pay includes $82 million of stock awards each year. Total compensation for the four other executives exceeded $26 million annually. The case is International Brotherhood of Teamsters, Garage Employees Local 272 Labor Management Pension Fund v Apple Inc et al._reporting by Jonathan Stempel; Editing by Stephen Coates.



Read more: Apple defeats lawsuit claiming it overpaid CEO Tim Cook, others