Apple’s Annual SEC Filing Reveals Missed Revenue and Profit Targets

Tripp Mickle, reporting for the WSJ:

On Friday, Apple said in a regulatory filing that annual sales of $215.6 billion were 3.7% below target, and its operating income of $60 billion came up 0.5% short for the fiscal year ended Sept. 24.

Mr. Cook’s total 2016 compensation dropped to $8.75 million for the year, down 15% from $10.3 million in the year earlier. The decline was tied to his cash bonus, which hinged on exceeding revenue and profit targets set by the board. His base salary rose 50% to $3 million.

Mr. Cook’s total compensation doesn’t reflect the mega-stock grant he received in 2011 when he took over as CEO, an award valued at the time at about $376 million.

★ Friday, 6 January 2017