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AAPL Stock: 509.46 ( 0 )

Analysts question Jobs' compensation

updated 09:40 pm EDT, Thu April 24, 2003


Gordon Anderson of CNN/Money writes "Apple CEO Steve Jobs couldn't have been happy when recent headlines trumpeted his revised compensation package as the .... It's the latest trend in CEO compensation: swapping out-of-the-money options for restricted stock. In effect, what Jobs and scores of other corporate officers have done is to accept the bird-in-hand virtues of direct stock ownership over the more ephemeral prospects of option grants."


by MacNN Staff

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  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

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    04/24, 09:47pm | report spam | Reply |

    innovation

    ...to him everything is an innovation... he has got to turn down his reality distortion field a notch or two...

  1. MacNN.com Reader

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    Joined: Jul 2001

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    04/24, 09:48pm | report spam | Reply |

    scumbag

    The next outrage in CEO pay?

    As their stock options become worthless, executives are loading up on restricted stock.
    April 24, 2003: 3:09 PM EDT
    By Gordon T. Anderson, CNN/Money Contributing Writer



    NEW YORK (CNN/Money) - Apple Computer has always prided itself on being a trend-setting company. Still, CEO Steve Jobs couldn't have been happy when recent headlines trumpeted his revised compensation package as the latest innovation in corporate gluttony.

    The story begins in January 2000, when Apple's board granted Jobs options to buy 20 million Apple shares at a strike price of $43.59. When the tech bubble popped, that contract became worthless. So in October 2001, Jobs was granted another 7.5 million options, exercisable at $18.30.

    Today, Apple shares (AAPL: Research, Estimates) are trading near $13 -- about their split-adjusted level of five years ago -- and in March, Jobs "voluntarily cancelled" the contract.

    He didn't walk away empty-handed, though. He exchanged the options for five million shares in restricted stock. Upon vesting over three years, he'll own them free-and-clear, regardless of Apple's stock price.


  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

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    04/24, 09:55pm | report spam | Reply |

    no FP 4 me

    well, FP bandit wants some compensation package love :(

  1. MacNN.com Reader

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    04/25, 11:48am | report spam | Reply |

    Dear readers

    Dear MacNN Readers,

    I'm a real, true, down-to-earth a******.

    Sincerely,

    Steve Jobs
    Chief Executive Officer
    Apple Computer, Inc.

  1. MacNN.com Reader

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    Joined: Jul 2001

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    04/25, 06:57pm | report spam | Reply |

    excessive conpensation

    I'm glad that someone is bringing attention to the excessive conpensation at Apple. They are not exactly the largest company in the world, why should they pay their CEO like they are.

  1. MacNN.com Reader

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    Joined: Jul 2001

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    04/26, 01:04am | report spam | Reply |

    Re: Dear readers

    I'm sure the real Steve Jobs knows that he changed the company's name from Apple Computer, Inc. to just Apple last year.

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