Jobs seeks no compensation at DisneyApple Computer chief executive Steve Jobs has requested that Walt Disney Co. not compensate him for his new role as a member of Disney's board of directors.
In a filing with the Securities and Exchange Commission last week, the entertainment conglomerate said it approved a modification to the Boards compensation policy for non-employee Directors of the Company to exclude Jobs from compensation under the policy.
Jobs joined the board earlier this year following Disney's $7.4 billion acquisition of Pixar Animation Studios, at which Jobs had served as chairman and chief executive.
The request by Jobs not to be paid for his leadership services is not surprising. He also receives no more than $1 per year for his role as Apple's chief executive. (The $1 salary is paid to Jobs to make him eligible for health insurance for his family.)
Last week, Apple disclosed that an internal investigation turned up irregularities with stock option grants issued between 1997 to 2001, including one to Jobs.
The grant was subsequently canceled and Jobs received no financial benefit, the company said.
On Topic: General
- First look: Fitbit Charge HR fitness band with real-time heart rate sensor
- Google announces 40 new third-party integrations for Siri competitor Google Now
- Apple's new Chongqing store shown off in photos ahead of Saturday opening
- AppleInsider's official podcast kicks off with analysis of the week's top Apple stories
- Apple, Google & Amazon settle with Italian government over 'misleading' free apps with in-app purchases