Ouch! Apple Computer cuts CEO Tim Cook's pay for poor performance.

Apple Inc. said Chief Executive Tim Cook and other leaders received less total compensation in 2016 as the company missed its revenue and profit goals for the year.

According to a regulatory filing on Friday, Apple said its annual sales of $215.6 billion were 3.7% below its target of $223.6 billion, and its operating income of $60 billion was 0.5% short of the $60.3 billion target.

As a result, company executives got 89.5% of their targeted annual cash incentive. In 2015, the executives got 100%. In all, Mr. Cook received $8.75 million in total 2016 compensation, down from $10.28 million in 2015. Other executives also received lower pay.

But hey, if you screw up, a cut in pay is the correct response.