Tim Cook, Apple's Chief Executive has taken a 99 percent pay cut this year. Cook will receive 4.17 million dollars in 2012.
He received a record compensation in 2011 pocketing 378 million dollars in awards that vest in two chunks - one in 2016 and the other in 2021.
The steep decline in annual compensation comes as Cook, who took over as chief executive from Apple co-founder Steve Jobs in 2011, faces growing pressure from Wall Street to sustain the company's stellar growth rate.
Cooks' overall annual compensation dropped this year, but Apple lifted his salary to 1.36 million dollars from the 900,000 dollars he got in 2011.
The remainder of his compensation for 2012 is 2.8 million dollars that comes from a separate incentive plan.
Cook received the largest single pay package awarded to a company CEO in about a decade in 2011.
Cook (52) has been with Apple since 1998. He replaced Steve Jobs in August 2011.
(with inputs from ANI)
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