Apple CEO Adjusts Bonus in Shift to Performance Rewards
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Apple Inc.’s board is linking more of Chief Executive Officer Tim Cook’s compensation to the company’s stock performance, seeking to reassure investors who have seen the shares drop 41 percent from a record in September.
Cook, who received one of the largest stock-reward packages on record in 2011, requested the modification to his bonus, Apple’s board said in a filing yesterday. The change means about third of the CEO’s stock rewards will now be subject to a drop in value, the directors said.