Apple (AAPL) to Pay Steve Jobs $1 Annual Salary for 2009
Apple Inc. (NASDAQ: AAPL) CEO Steve Jobs will keep his $1 annual salary for the last year, while four other company executives were given $100,000 pay raises after they were determined to be underpaid.
Jobs, 54, has been paid a $1 annual salary since 1997 and did not receive any bonuses or stock awards in 2009 according to the company’s filing with the SEC on Wednesday.
Jobs currently owns 5.5 million shares of Apple and has yet to sell a single share in his 12-year tenure. Jobs has not received any new equity since 2003.
The year has not been smooth sailing for Jobs as he took a five and a half month leave of absence from the company due to a medical condition that required a liver transplant. At the time, some speculated that Jobs may have been terminally ill.
Shares of Apple were cut in half during 2008 when the company’s products did not fare well amid the economic meltdown. The stock rebounded in 2009 by nearly 42% and at the close of trading on Wednesday the shares were at $202.10. Based on this recent price, Jobs’ holdings are worth about $1.1 billion.
Job is also the largest individual shareholder of the Walt Disney Co. (NYSE: DIS) with a 7.4% stake valued at $4.5 billion.
Jobs, 54, has been paid a $1 annual salary since 1997 and did not receive any bonuses or stock awards in 2009 according to the company’s filing with the SEC on Wednesday.
Jobs currently owns 5.5 million shares of Apple and has yet to sell a single share in his 12-year tenure. Jobs has not received any new equity since 2003.
The year has not been smooth sailing for Jobs as he took a five and a half month leave of absence from the company due to a medical condition that required a liver transplant. At the time, some speculated that Jobs may have been terminally ill.
Shares of Apple were cut in half during 2008 when the company’s products did not fare well amid the economic meltdown. The stock rebounded in 2009 by nearly 42% and at the close of trading on Wednesday the shares were at $202.10. Based on this recent price, Jobs’ holdings are worth about $1.1 billion.
Job is also the largest individual shareholder of the Walt Disney Co. (NYSE: DIS) with a 7.4% stake valued at $4.5 billion.
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