In a regulatory filing spotted by the WSJ, Apple said annual sales were $215.6 billion, 3.7% below its target of $223.6 billion. Operating income was $60 billion, 0.5% short of its $60.3 billion target.
Due to the missed targets, executives didn't get their full possible cash incentive. Last year Cook earned $10.3 million in compensation but this year he received $8.75 million.
Cook's pay fell 15% compared to an average drop of 9.6% for other executives.