No pay for Jobs in '98
Apple's interim CEO did not receive any compensation for fiscal year 1998, although his holdings total 10,001 shares, according to the company's proxy.
It came in a year that Jobs helped spark a continued turnaround of the computer maker, which included the release of the iMac computer. Jobs' holdings in Apple total 10,001 shares--one more than his fellow Apple board member, Larry Ellison.
Although Jobs did not receive any compensation or any new options during the year, a third of the 30,000 options that he was initially granted in 1997 as a board member vested.
Jobs still has considerable wealth through his holdings in Pixar. Jobs also did not receive compensation from Apple in 1997.
Fidelity Management & Research Company holds a 12.32 percent stake in Apple, or 16.7 million shares. Chief Financial Officer Fred Anderson holds 10,251 shares and director William Campbell holds 10,251 shares.
Apple will hold its annual meeting on Wednesday, March 24, at its corporate headquarters, the proxy shows. The board met eight times during fiscal year 1998, and with the exception of Ellison, no director attented fewer than 75 percent of all the meetings.
Avie Tevanian, Apple's senior vice president of software engineering, recently filed to sell 68,960 shares of stock with a market value of $2,827,360.00. Tevanian's job consists of overseeing the creation of Mac OS X, the company's next generation operating system, among other efforts.
Timothy D. Cook, senior vice president of worldwide operations, was granted a signing bonus of $500,000. That went toward supplementing the $223,953 he earned last year. Cook was hired from Compaq early last year to run Apple's worldwide manufacturing operations.
Anderson received a 16 percent pay raise to $604,283. But like the other executives, Mitchell Mandich, senior vice president of worldwide sales, and Jonathan Rubinstein, senior vice president of hardware engineering, no bonus was received.
Mandich received $402,253 last year, up from his previous salary of $174,348 in 1997. And Rubinstein earned $402,095 last year, up from $250,262 that he received in 1997. Both executives did not receive a full year's compensation in 1997, having joined Apple officially in February of that year.
Rubinstein filed last week to sell 75,000 shares of stock at a market value of $3,075,000, according to SEC filings.
According to the proxy, Apple is proposing that each director stand for reelection annually.
News.com's Jeff Pelline contributed to this report.