Apple CEO Tim Cook's salary drops

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Apple CEO Tim Cook and other top executives received lower compensation in 2016 compared to the year prior as the tech company missed its annual revenue and profit targets, according to The Wall Street Journal.

Mr. Cook's total compensation dropped 15 percent between 2015 and 2016. He received $8.75 million last year and $10.3 million in 2015.

Pay for other top Apple executives fell an average of 9.6 percent. CFO Luca Maestri's total compensation dropped 10 percent to $22.8 million.

A Jan. 6 regulatory filing showed the company's annual sales in 2016 were $215.6 billion, or 3.7 percent below its targeted $223.6 billion. Apple's operating income was 0.5 percent short of its goal, coming in at $60 billion instead of $60.3 billion.

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