Apple cuts Tim Cook’s pay by $1.5M as company announces 2017 shareholder meeting

[HCK]

Apple cuts Tim Cook’s pay by $1.5M as company announces 2017 shareholder meeting

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<p>Apple has cut Tim Cook’s 2016 pay by a little over $1.5M after the company failed to achieve both revenue and profit goals. The news that Cook’s compensation was cut from $10.28M in 2015 to $8.75M in 2016 was spotted in a <a href="https://www.sec.gov/Archives/edgar/data/320193/000119312517003753/d257185ddef14a.htm#toc" target="_blank">regulatory filing[/url] by the <a href="http://www.wsj.com/articles/apple-cuts-ceo-tim-cooks-pay-after-missing-2016-targets-1483710023" target="_blank">WSJ[/url].</p>

<p class="p1"><span class="s1">Apple said its annual sales of $215.6 billion were 3.7% below its target of $223.6 billion, and its operating income of $60 billion was 0.5% short of the $60.3 billion target. As a result, company executives got 89.5% of their targeted annual cash incentive.</span></p>

<p>Cook wasn’t the only one to lose out …</p>
<p> <a href="https://9to5mac.com/2017/01/06/apple-cuts-tim-cooks-pay-salary/#more-462045" class="more-link">more…[/url]</p>
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Source: Apple cuts Tim Cook’s pay by $1.5M as company announces 2017 shareholder meeting