Apple\'s iPod chief pockets over $26M from options

Apple Computer disclosed Tuesday that three of its top executives took home more than US$49.9 million in profit from exercising 6.4 million stock options in 2004, writes TMO's Brad Gibson. In its annual proxy statement filed with the SEC, Apple said Jonathan Rubinstein, senior vice president of its iPod division, collected $26.3 million in value from exercising 3 million stock options last year. Timothy D. Cook, the company's vp of worldwide sales and operations, reaped nearly $14.2 million in value from exercising 2.7 million stock options. And Avadis Tevanian, Jr., senior vice president and chief software technology officer, took home more than $8.8 million in stock option profit from excercising 700,000 stock options. Meanwhile, Steve Jobs received a salary of $1 in 2004, according to the filing. No other compensation for Jobs was listed. In the filing, Apple states that its annual shareholders meeting will take place at 10:00 a.m. PST, on April 21 in Cupertino, Calif. Some additional details are available in the TMO report.