Apple CEO Docked His Own Pay By $4 Million

Tim Cook urged the board to align his compensation with the company’s underperforming stock

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LiSong / Imaginechina / AP

Apple CEO Tim Cook

Apple CEO Tim Cook took a $4 million pay cut this year, after he urged the company’s board of directors to link half of his stock grants — which make up the bulk of his compensation — to the company’s performance on Wall Street.

Cook made the decision out of a “strong desire to set a leadership example in the area of CEO compensation and governance,” Apple said in a filing Sunday, CNN reports.

The pay cut represents just 10 percent of Cook’s overall compensation, which includes a $1.4 million salary, $2.8 million cash bonus and $36.4 million in stock grants.