Tim Cook’s compensate slips after Apple’s 2016 dip


Apple CEO Tim Cook had a improved year in 2015.

Photo by James Martin/CNET

Apple unsuccessful to accommodate a annual sales goals in 2016, and CEO Tim Cook paid a price.

Cook warranted $8.75 million in 2016, according to a Securities and Exchange Commission filing from Apple on Friday. That compares with $10.28 million in 2015, and $9.22 million in 2014.

The Cupertino, California-based association had directed to transcend a $223.6 billion in sales from 2015. Instead it fell brief in 2016, raking in $215.6 billion.

Because of a dip, Apple executives, including Cook, perceived usually 89.5 percent of their annual money incentives.

For 2016, Cook’s sum remuneration enclosed $5.37 million in money inducement pay, compared with $8 million in 2015 and $6.7 million in 2014.

His bottom income increased, though, from $2 million in 2015 to $3 million final year.

Apple struggled with iPhone sales in 2016 — a initial time its flagship phone saw conveyance declines. The association creates some-more than two-thirds of a income from a iPhone, so a device’s dump put a hole in Apple’s revenue.

Apple did not respond to requests for comment.

Meanwhile, a association is personification adult a App Store sales boost, with a top income ever in 2016, according to a filing. The movement continues to hurl into 2017. New Year’s Day was a biggest sales day ever.

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