Tuesday, March 14, 2006, 06:55 am PT (09:55 am ET)
Jobs\'s salary remained at $1 in 2005Apple Computer chief executive Steve Jobs received a $1 salary and no other compensation for fiscal year 2005, unchanged from the previous year.
However, according to a proxy statement filed with the Securities and Exchange Commission, three other executives did received bonuses for the first time in the last three years, notes The Wall Street Journal.
Chief Operating Officer Timothy D. Cook received a bonus of $600,239, while Senior Vice President and Chief Financial Officer Peter Oppenheimer received a bonus of $550,202 and Senior Vice President of the company's iPod Division Jonathan Rubinstein got a $551,239 bonus.
For fiscal 2005, all executive officers except Jobs were chosen to participate in a performance bonus plan, which shareholders approved in April 2005, according to the filing.
Mr. Jobs's 10 million restricted shares, which were granted to him in 2003, were valued at $532 million at the end of fiscal 2005, according to the Journal. The valuation was based on $53.20 per share, the closing price of Apple's common shares last Sept. 23. The shares are slated vest in full on the third anniversary of the grant date.
In addition, Mr. Jobs has 120,000 fully vested options that he received in 1997 under the director stock option plan, according to the filing.
Since accepting the position of CEO, Mr. Jobs is no longer eligible for grants under the director stock option plan and receives no additional compensation for attending board meetings.
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