Apple caps exec bonuses

Apple has set a for virtually all of its eligible execs and other managers. In a new SEC filing on Monday, the company said its compensation committee has designated all of Apple's executive officers, other than its chief executive, as bonus plan participants in the approved fiscal 2006 bonus plan, according to Dow Jones Newswire. The committee also designated other key Apple employees who aren't executive officers as bonus plan participants, however, the filing didn't name those employees, according to the report. "For the year ending Sept. 24, 2006, the committee approved two equally-weighted performance measures for the bonus pool. These goals relate to the company achieving certain levels of annual revenue and operating margin, the filing said. Apple said that the target bonus payable under the plan for fiscal 2006 to executive officers, other than its CEO, is equal to 50% of their annual base salary."

by MacNN Staff