(Bloomberg) — Apple Inc. disclosed a 18% pay increase for Chief Executive Officer Tim Cook ahead of its annual meeting next month, while also saying it opposed a shareholder measure calling for an end to the corporate’s diversity program.

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Cook’s compensation grew to $74.6 million in 2024, compared with $63.2 million the prior 12 months, Apple said in its annual proxy filing on Friday. Along with executive compensation, investors will vote on 4 outside proposal on the meeting on Feb. 25. The corporate opposed all of them.

The measure about Apple’s diversity, equity and inclusion, or DEI, efforts urged the corporate to think about abolishing this system because it could discriminate against employees and draw lawsuits. The corporate said the proposal was an inappropriate try and restrict Apple’s business operations and that it already assesses legal and regulatory risks.

Cook’s pay was made up of a $3 million base salary, $58.1 million in stock awards, and roughly $13.5 million in additional compensation. The raise mostly comes from a rise in stock award value.

While Cook’s pay is up significantly from last 12 months, it’s still a far cry from his total compensation in 2022, which reached nearly $100 million because of stock awards. His pay was cut at his discretion in 2023 after pushback from employees and shareholders.

Apple’s board of directors said it “made no changes to the quantity or structure of Mr. Cook’s 2025 total goal compensation.”

Other executives, including Apple’s retail chief, former chief financial officer, chief operating officer and general counsel, all made greater than $27 million in 2024, representing slight increases from the prior 12 months. Luca Maestri, the ex-CFO, was recently replaced as by Kevan Parekh.

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