Apple (AAPL) Forces Executives to Own Stock; Cook Must Hold 10x His Salary
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Despite earlier opposition, Apple (Nasdaq: AAPL) has implemented a change to its corporate governance policy that could ruffle a few feathers in Cupertino, California.
Apple is now requiring executive officers to hold 3x their annual base salary in stock. The CEO is required to hold 10x his annual base salary in stock and Non-Employee Directors are required to hold 5x their annual retainer.
In the past, Apple was criticized for failing to implement executive share ownership guidelines.
Of note, Apple stock has declined by approximately 37 percent since reaching an all time highs at $705 per share in September 2012, so any little change could help.
Apple is now requiring executive officers to hold 3x their annual base salary in stock. The CEO is required to hold 10x his annual base salary in stock and Non-Employee Directors are required to hold 5x their annual retainer.
In the past, Apple was criticized for failing to implement executive share ownership guidelines.
Of note, Apple stock has declined by approximately 37 percent since reaching an all time highs at $705 per share in September 2012, so any little change could help.
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