Apple paid Tim Cook and other top executives less in 2016 following missed revenue and profit goals for the year.
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.
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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.
Read More