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80,259 News Articles

Jobs not short a bob

Apple keeps Jobs for $1 — plus plane, shares…

Apple has paid chief executive Steve Jobs an annual salary of $1 for the second year running, but threw in a "special executive bonus" of an aeroplane which has so far cost the firm more than £62m.

In its annual report, filed with the US Securities and Exchange Commission last week, Apple also revealed its four top executives — Fred Anderson, Timothy Cook, Jonathon Rubinstein and Avadis Tevanian Jr — were granted options for one million Apple shares each.

Cook also received a bonus of nearly £350,000 for "accepting the position of senior vice president, sales, service and support, in addition to holding the position of senior vice president, operations," the company said. Plainly playing two titular roles needs half a million dollars' worth of bonus.

Jobs' aeroplane was originally reported as a bonus in 2000, Apple said, but was moved to the 2001 fiscal year because it was not formally given to Jobs until this year.

Last year, Jobs received options for 20 million Apple shares on top of his $1 salary. So it's not like he's short of a few bob.


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