Apple execs get a haircut

There’s a price to pay for missing your targets. These execs can afford it.

These were the compensation committee’s 2016 performance goals for Apple’s fiscal 2016:

This was the penalty for missing them (switch between 2015 and 2016 in the chart below to see the change):

Not seeing the graphics? Try the website.

Source: Definitive Proxy Statement, spotted by the WSJ.

See also: An end—finally—to Apple’s annus horribilis

6 Comments

  1. Fred Stein said:

    It’s nice to see a token punishment. Many other companies are afraid to hold their top people accountable. Actually FY 2016 was a great year compared to just about any thing except FY 2015. Happy New year news for investors and Apple Execs:
    Apple Press release: http://www.apple.com/newsroom/2017/01/app-store-shatters-records-on-new-years-day.html
    $240 million in customer purchases makes January 1, 2017 the App Store’s busiest day ever
    App developers earned $20 billion in 2016 — up 40 percent from 2015
    And Flurry reports App and Device sales dominance last quarter:
    http://flurrymobile.tumblr.com/post/155022641240/from-apps-to-iphones-holiday-shoppers-invest-in

    1
    January 6, 2017
  2. Jonathan Mackenzie said:

    Performanced based compensation is meaningless if it only goes up. I doubt any of these folks are upset with the pay cut or worried about the future. They’ll make it back and then some in the coming year I expect.

    Hard to believe last year was a down year. If that was the lull, just imagine what the surge will look like.

    Is it too soon to starting hand wringing about how 2018 is going to be facing tough compares? I expect that noise will start the morning after the q1 earnings call.

    2
    January 6, 2017
    • Jonathan Mackenzie said:

      “Proformanced”? That sounds like a corporate word if there ever was one.

      1
      January 6, 2017
  3. George Knott said:

    As a shareholder since 2009, I still think they are grossly over compensated and quite frankly I would like to see Tim and Eddy permanently cut. They have had over 5 years to make a difference and the company’s results and products have been very underwhelming . Tim, lots of room for retirees here in the desert….come join us.

    0
    January 7, 2017
  4. Tom Wyrick said:

    I would not go to that barber shop (in the photo). Not even if the haircuts were free. Tim Cook should avoid it in the future, too.

    0
    January 10, 2017

Leave a Reply