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Steve Jobs maintains $1 salary for 2009

updated 08:50 pm EST, Wed December 23, 2009

Exec holds over 5 million shares of AAPL

Apple CEO Steve Jobs has maintained his $1 salary again for 2009, following a tradition that began when the executive returned to the company over a decade ago, according to a preliminary proxy statement filed with the SEC. The iconic CEO also declined to participate in the company's bonus program, which provided large payouts for the rest of the executives.

Each of the named executives received a $100,000 raise this year, with COO Tim Cook earning $800,000 as a base salary. The company met its overall income goals, which entitled the executives to bonus payouts equal to 100 percent of their base pay.

Although Jobs receives a meager base pay without bonuses, he holds over 5.5 million shares of Apple stock. At the current trading price, Jobs' AAPL holdings are worth over $1 billion. The CEO has yet to sell or transfer any of his shares, however.




by MacNN Staff

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  1. Bobfozz

    Joined: Dec 1969

    +7

    other CEOs could learn something...

    from Mr. Jobs. Many are failures and get paid exorbitant amounts of money! This must make them look ridiculous (as they cash their checks of failure).

  1. psdenno

    Joined: Dec 1969

    0

    In spite of...

    ..... some quirkiness, Jobs is a class act.

  1. testudo

    Joined: Dec 1969

    -1

    Re: other ceos

    Except most CEOs, including Jobs, make most of their money from Bonuses and stock options, not salary. So this is basically symbolic and nothing more.

    And lest we forget other perks like the airplane Apple pays for him.

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