Apple’s Executive Compensation Plans
by Jillian Lobato
Apple’s CEO Steve Jobs was given his usual $1 annual salary in 2009, but Apple Inc.’s strength through a very tough economy returned the value of his personal holdings in the company is now chump change compared to last year. Apple said that they reimbursed Jobs $4,000 for company travel on his $90 million Gulfstream V jet, which he received as a bonus in 1999, a far cry from the $871,000 Apple reimbursed him with in 2008.
Unfortunately, Jobs took almost 6 months off this year due to a liver transplant, but returned to work part-time at the California offices at the end of June.
Jobs holds 5.5 million shares of Apple’s stock, and has not sold any since 1997, nor has he been awarded any new equity since 2003.
In 2008, the value of his stake in the company was cut in half because investors were worried that Apple’s expensive items might not do well with the way the economy was turning. However, shares gained about 42% during the 2009 fiscal year that ended in September, and at the close of trading Wednesday, when Apple’s stock reached $202.10, Jobs’ holdings were worth around $1.1 billion.
He is also the largest individual shareholder of The Walt Disney Company, with his 7.4% stake currently worth about $4.5 billion.
At an annual meeting scheduled for Feb. 25, 2010, Apple’s shareholders will have a chance to vote on the company’s executive compensation plans. Shareholders have already submitted two other proposals to be voted on at the meeting, one calling for a detailed environmental sustainability report, and the other for a board committee devoted to that issue.
Menlo Park's Japanese eatary, Kaygetsu announced its closing last week.
The no-holds barred holiday is upon us and while many of us are gearing up for carb-loaded stuffing, and sweet-as-hell potato casserole, I'm left wondering how to lighten the load.
Jay-Z and his business partner Juan Perez are renovating the 40/40 Club. The New York sports club, which closed its doors on the first day of June, plans to re-open to the public with an updated look and even more lavish atmosphere. Along with eye-catching new décor, the club will revamp its menu...
Since 1914, the British-made Aston Martin sports cars have been renowned for their individual character and reputation for design and engineering excellence. Now in 2011, their strong reputation for quality craftsmanship is allowing them to press forward with ambitious growth plans in China.
Terrific opportunity to acquire one of the last available building lots inside the lower gate at Conyers Farm. Current owner has a set of plans by architect Ken Nadler to build a magnificent stone estate on the property; wetlands and P&Z approvals are in place.
Las Vegas Sands, known for its fabulous Venetian Resort, has been lookng into the possibility of building a new resort and casino in downtown Miami, in order to compete with the upcoming plans for the new Miami Genting casino.
Mother's Day has passed, but there's always an excuse to buy something extra special for the woman in your life (or for yourself). Ulysse Nardin's sparkling Executive Lady watch is a perfect gift. Its men’s counterpart is the special Ulysse Nardin Executive Dual Time.
Jamie Oliver; chef, restaurateur and personality from “Naked Chef” and “Food Revolution” was in L.A. last week to raise money for his Food Foundation. His charity is aimed at empowering, educating and engaging people to love and enjoy “good food”
lans for an elaborate new transportation hub—to be called the Thames Hub—in the UK were recently unveiled. The hub plans are a joint venture between architecture firm Foster & Partners and economic consultancy group Halcrow and Volterra. London Mayor Boris Johnson has already given the his ...