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Tim Cook gets 10% pay cut… but still takes home over $40 million


Apple’s CEO has docked himself a hefty $4 million in pay, as a direct result from Apple’s underperforming stock price earlier this year, according to a proxy statement filed on Sunday (via CNN). Expressing a “strong desire to set a leadership example in the area of CEO compensation and governance,” Tim Cook insisted on putting half of his own stock grants at risk if Apple’s shares underperformed the SP 500 index this year. Apple’s stock fell 26% percent from August 2012 through August 2013 while the SP 500 index rose 18% during the same period. The 50% stock that Cook forfeited was worth nearly $4 million when the stock vested. Even so, that number represents only 10% of what Apple

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