This excerpt taken from the AAPL DEF 14A filed Jan 7, 2009.
4. CEO Compensation
Mr. Jobs currently holds approximately 5.5 million shares of the Companys common stock. Since rejoining the Company in 1997, Mr. Jobs has never sold a share of the Companys stock. Mr. Jobs currently holds no unvested equity awards. In fiscal 2008, Mr. Jobs compensation consisted of his $1 annual salary. The Compensation Committee recognizes that Mr. Jobs level of stock ownership significantly aligns his interests with those of the Companys shareholders. Nevertheless, because Mr. Jobs continued leadership is critical to the Company, the Compensation Committee from time to time considers additional compensation arrangements for him.
This excerpt taken from the AAPL DEF 14A filed Jan 23, 2008.
4. CEO Compensation
The CEO, Mr. Jobs, currently holds approximately 5.5 million shares of the Companys common stock. Since rejoining the Company in 1997, Mr. Jobs has never sold a share of the Companys stock. His last equity grant was awarded in 2003, and vested in full in 2006. Mr. Jobs currently holds no unvested equity awards. In fiscal year 2007, Mr. Jobss entire compensation consisted of his $1 annual salary. Because Mr. Jobss continued leadership is critical to the Company, the Compensation Committee is considering additional compensation arrangements for him.
Mr. Jobs has received a $1 annual salary since he rejoined the Company in 1997 and began serving as interim CEO. In 1999, the Company awarded Mr. Jobs an aircraft as an executive bonus in recognition of his outstanding performance during the previous two years. Mr. Jobs also received two stock option grants, one in 2000 and another in 2001. Mr. Jobs never exercised these grants, and they were both cancelled in March 2003, when the Company awarded Mr. Jobs a grant of 5 million shares of restricted stock.
The 2003 restricted stock grant required Mr. Jobs to remain employed by the Company for three more years before it vested. This grant, which increased to 10 million shares when the Companys stock split in 2005, vested in full in March 2006. After a portion of these shares was withheld for the payment of taxes, Mr. Jobs received the remaining 5,426,447 shares. Due in large part to Mr. Jobss leadership, the Companys stock price (after accounting for the stock split) increased from $7.47 on the March 2003 grant date to $64.66 on the March 2006 vesting datemore than an eight-fold increase in three years. Under Mr. Jobss continued leadership, the Companys stock price increased from $64.66 per share in March 2006 to $189.95 per share as of October 31, 2007a three-fold increase in approximately 18 months.
When he was elected to the Board in 1997, Mr. Jobs received the standard directors stock option grant for 30,000 shares. Because Mr. Jobs became employed later that year as the Companys interim CEO, he was no longer eligible for such director grants. When the 1997 director grant (which increased to 120,000 shares after two stock splits) was due to expire in August 2007, Mr. Jobs exercised the option and he currently holds these 120,000 shares.
This excerpt taken from the AAPL DEF 14A filed Apr 16, 2007.
CEO compensation. The CEO has received the majority of his compensation through an equity grant and is paid only $1 per year in base salary with no bonus opportunity. No additional compensation is currently received by the CEO.