Apple's top lawyer made $27 million in 2021

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  • Apple general counsel Kate Adams' total compensation reached $26.97 million in fiscal 2021

(Reuters) - Apple Inc general counsel Kate Adams' total compensation rose again in fiscal 2021, reaching almost $27 million, a regulatory filing shows.

Adams' $26.97 million pay package increased by nearly 3% compared with the previous year's $26.25 million, according to the tech giant's annual proxy filing with the U.S. Securities and Exchange Commission on Tuesday.

The bulk of that sum came from stock awards valued at nearly $22 million. She also earned $5 million in cash last year, including a base salary of $1 million, the filing shows.

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Adams's total pay increase aligned with other Apple executives but was far below CEO Tim Cook, who took home $98.7 million last year. Cook's pay is nearly seven times what he earned in 2020, and 1,447 times that of the average employee at the company, Apple said.

The iPhone maker has benefited from strong demand for its products and services over the past two years as consumers working from home shelled out on upgrades. Apple revenue rose over 30% to $365.82 billion for its fiscal 2021, boosting its shares to briefly cross $3 trillion in market capitalization this year.

An Apple representative did not immediately respond to a request for comment on Adams' compensation on Friday.

Adams, who replaced Bruce Sewell as Apple's general counsel in late 2017, oversees all legal matters for the iPhone and computer maker, including corporate governance, intellectual property, litigation, compliance, global security, and privacy, its Thursday filing said.

Before joining Apple, she spent 14 years in-house at Honeywell International Inc, another technology company, and a decade at law firm Sidley Austin, where she was an associate and partner.

Read more:

Apple's Tim Cook earned over 1,400 times the average worker in 2021

Apple paid general counsel Kate Adams over $26 million for 2020

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Xiumei Dong covers legal industry news, with a focus on law firm strategy and growth, in-house counsel and the Washington, D.C., legal market. Reach her at Xiumei.Dong@thomsonreuters.com.