This year, Apple's Tim Cook asked his company's board to restructure a massive restricted stock award he'd received when he became chief executive in August 2011.
The change came after several months that had seen Apple's stock plunge from $702.10 per share to $390.
The change was voluntary. But as a result, Cook has already paid a price.
According to a shareholder proxy that Apple filed Friday, the board determined that because of Apple stock's poor performance, Cook should forfeit 7,134 restricted stock units that he received two years ago.
When Apple awarded Cook the 1 million restricted stock units, half were supposed to vest after five years, and the other half after 10 years.
But to demonstrate his commitment to shareholders, Cook agreed this summer to have a portion vest annually so the board could determine each year whether the company had performed well enough for him to retain the awards.
In the filing, the board noted that while 72,877 of Cook's shares for that period did vest, the overall total shareholder return was off the mark. As a result, 7,134 shares did not vest.
While sizable, the board argued that the bonuses were reasonable given that they fall below the "median for executives with similar positions at peer companies."