Tim Cook’s Pay Was $1.5 Million Less in 2016 as Apple Missed the Own Performance Targets

Apple’s annual shareholders assembly will be hold on Feb 28 during 9:00 a.m. Pacific Time in a Town Hall building during a Infinite Loop domicile in Cupertino, California, according to an SEC document filed electronically today. Admission is open to all shareholders of record on a initial come, initial served basis.

A primary object of business on a bulletin is to elect a Board of Directors to offer until a subsequent annual assembly of shareholders in 2018, with Apple nominating a same 8 people now portion on a board: Tim Cook, Al Gore, Bob Iger, James Bell, Andrea Jung, Art Levinson, Ron Sugar, and Sue Wagner.

The filing reveals Apple CEO Tim Cook done $8.7 million in 2016, down from $10.28 million in 2015 and $9.2 million in 2014. Cook’s gain enclosed a bottom income of $3 million, non-equity incentives of $5.37 million, and other remuneration of scarcely $378,000. Other named executives netted scarcely $23 million apiece.

Apple Executive Compensation in 2016

• Apple CEO Tim Cook: $8,747,719
• Apple CFO Luca Maestri: $22,803,569
• Apple sell arch Angela Ahrendts: $22,902,892
• Apple services arch Eddy Cue: $22,807,544
• Apple hardware engineering arch Dan Riccio: $22,807,544
• Apple ubiquitous warn Bruce Sewell: $22,807,544

The filing did not divulge remuneration for other pivotal Apple executives such as pattern arch Jony Ive, handling arch Jeff Williams, program engineering arch Craig Federighi, and selling arch Phil Schiller.

Apple remarkable it did not accommodate a aim opening goals for both net sales and handling income in 2016, ensuing in a comparison executives receiving usually 89.5% of their money incentives. In 2015, a executives perceived 100% of their money incentives as Apple met a opening goals for sales in that year.

Update: While Cook warranted roughly $1.5 million reduction from his bottom income and non-equity incentives in 2016, it was also a year in that he reached 5 years as CEO and unbarred scarcely $137 million in previously-awarded batch bonuses tied to both his reign and Apple’s opening underneath his leadership. Accordingly, Cook warranted roughly $145 million final year, his biggest payout nonetheless as conduct of a company.

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