Apple CEO Tim Cook’s pay slumps along with iPhone sales

Apple penalized CEO Tim Cook for the iPhone maker’s first sales slump in 15 years with a 15 per cent pay cut. Cook still did extremely well, with a compensation package valued at $8.7 million for Apple’s fiscal year that ended Sept. 24, according to a regulatory filing made Friday. But the amount was down from nearly $10.3 million in the prior year.