CEO Tim Cook takes $4 mn pay cut as Apple's 2019 performance dwindles

His 2019 bonus, which is tied to Apple's performance, tallied $7.7 mn, and was calculated based on Apple exceeding its sales target by only 28%; the incentive was $12 mn in 2018

Apple chief Tim Cook saw his annual pay slip to $11.6 million in 2019 after the company registered a weaker financial performance compared with the previous year, according to documents filed Friday.

Cook, who took home $15.7 million in 2018, is paid a base salary of $3 million, in addition to a bonus and various compensations.

His 2019 incentive bonus, which is tied to Apple's performance, tallied about $7.7 million, and was calculated based on the fact that Apple exceeded its sales target by only 28 per cent.

That compared with $12 million in 2018, based on the company exceeding