Apple CEO Tim Cook now takes private planes only

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"As an additional security measure for Mr. Cook, the Board also requires that he use private aircraft for all business and personal travel", Apple wrote in the filing.

It's been a good year for Apple and its CEO Tim Cook.

Additionally, new regulatory filings show that Cook has been given the use of a private jet for the first time, citing "the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as chief executive".

Each of the top officers, not including Cook, receive a base salary of $1 million, cash incentives and were awarded $20 million in stock with the tech giant.

In its most recent quarterly earnings, Apple said iPhone sales rose 2 percent, its China business grew 12 percent, and its services sector - including Apple Pay, Music, App Store and iCloud - soared 34 percent higher than the same period a year earlier. He has also been told to fly private due to security reasons.

After the release of the iPhone X, the USA tech giant recorded a strong net profit of 19% from a year ago to $10.7 billion in the fiscal fourth quarter to September 30.

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Cook's actual salary saw a comparatively smaller $57,692 increase, but the bulk of his nearly $4 million raise came from performance-based cash bonuses.

Apart from Cook, other top executives did receive a pay raise as well.

CFO Luca Maestri, retail VP Angela Ahrendts, hardware engineering VP Dan Riccio, hardware technologies VP Johny Srouji and former counsel Bruce Sewell received bonuses of $3.11 million for a total compensation of $24.2 million each. Cook also incurred $224,216 in security expenses.

Apple CEO Tim Cook chats with attendees of the iPhone X event. The payout was a part of the huge welcome package that Apple gave Cook after he succeeded Steve Jobs in 2011.

This post has been updated with a clarification.

Further, the proxy statement says that Cook will have to pay taxes anytime he uses an Apple private jet for personal travel as the cost will come under extra compensation.