Tim Cook took a pay cut after Apple missed 2016 goalsApple's CEO received a bit of a pay cut thanks to a policy tying some executive compensation to company performance.
Apple CEO Tim Cook, along with other named company executives, saw a bit of a pay cut in 2016 as a result of Apple underperforming financially throughout the year. Cook, along with other executives like Luca Maestri, Angela Ahrendts, and Eddy Cue, has part of his compensation directly tied to Apple's performance, so the cut was triggered automatically by company policy.
From the Securities and Exchange Commission:
In 2016, Apple was below its target performance goals for both net sales and operating income, resulting in a payout of each named executive officer's annual cash incentive at 89.5% of target. The Compensation Committee determined that no downward adjustments would be made based on Apple's or an individual's performance and approved the payout for each named executive officer for 2016.
In 2016, Cook took home $8,747,719 in compensation, compared to $1...
Source:
Tim Cook took a pay cut after Apple missed 2016 goals
