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Apple's Tim Cook gets a pay cutDue to Apple's declining sales figures, Tim Cook's wallet isn't as fat as it was in previous years.
Apple paid Tim cook less in 2016. According to an Apple filing with the Securities and Exchange Commission, Apple CEO earned 8.75 million dollars for the year of 2016. Back in 2015, Cook earned 10.28 millioin dollars. He earned 9.22 million dollars in 2014. Cook's pay is tied to Apple's sales figures. In 2016 Apple earned $215.6 billion. However, that amount is less that its $223.6 billion in sales for 2015. Here's the breakdown on Tim Cook's 2016 pay. He earned $5.37 million in cash incentive pay. That's down by $2.6 billion in the previous year. Apple's 2016 was not its best year. The company saw its iPhone shipments drop for the first time ever. Sales of iPads were also down despite Apple's iPad Pro line. 2017 might be a different story. Apple reported that its App Store pulled in nearly $240 million in purchases on New Year's Day alone. For more information, check out cnet.com. I'm Iyaz Akhtar and I'll see you online.