Apple Inc hiked the salary of its chief executive Tim Cook by 22 per cent during the past year, resulting in his remuneration for 2018 reaching nearly $15.7 million, a filing submitted to the US Securities and Exchange Commission showed.
"For 2018... we achieved net sales of $265.6 billion and operating income of $70.9 billion, each representing a year-over-year increase of 16 percent, and exceeding the 2018 maximum annual cash incentive program goals for both of those performance measures", the filing reads.
Repeating that feat may be challenging.
The news came a week after Apple cut its revenue outlook for the latest quarter, citing steeper-than-expected "economic deceleration" in China and emerging markets.
Four other Apple executives got bonuses of $US4 million, bringing their total pay to about $US26.5 million each, including salary and stock awards.
VideoApple has acknowledged that demand for iPhones is waning. That confirms investor fears that the company's most profitable product has lost some of its lustre.
In a recent CNBC interview, Apple CEO Tim Cook shed some light on the company's plans for 2019. It pays out in annual increments.
Shares of Apple sank 10 per cent in the first session after the announcement, its worst day since 2013, contributing to a big pullback in the tech giant's stock market performance over the last three months.
Cook seems to be most enthusiastic about Apple's health-related efforts, which have gotten far more serious with last year's launch of ECG and irregular heart rhythm notifications features for the Apple Watch.
Apple shares returned 49 per cent in its last fiscal year, including reinvested dividends, nearly triple the S&P.