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Jobs gets options, not salary

Apple's proxy statement reveals that Steve Jobs and fellow board member Larry Ellison each are granted 30,000 shares of stock.

Apple Computer's (AAPL) interim chief executive Steve Jobs and his fellow board member Larry Ellison each were granted 30,000 shares of Apple stock at an exercise price of $23 a share, the company's proxy said today.

That strike price gives them a slight gain over where Apple's shares have been trading. The computer maker closed at 26-11/16 today, down 7/16 over Friday.

Jobs drew no salary from Apple last year, though he still owns one share of stock in the company, the document shows. It also shows that Ellison was the only director who attended less than 75 percent of the meetings of all members of the board.

Apple's chief financial officer, Fred Anderson, received $811,548 in total compensation, including salary, stock awards, options, and other compensation. Some of the executives' options were repriced at $13.25 per share, along with Apple employees.

Meanwhile ex CEO Gilbert Amelio received millions of dollars, according to the proxy statement. Amelio earned $1.9 million in salary and bonuses, on top of $6.7 million in a lump-sum severance payment and $509,350 in stock awards.

Amelio left Apple in July of last year, and Jobs was named acting CEO in September. Amelio earned a partial payout under a performance share plan, and elected to receive payment in stock and cash. Upon his resignation, he forfeited 800,000 of the options granted to him previously. Additionally, the company's former executive vice president and chief information officer, Ellen Hancock, earned total compensation of $1.26 million.

Jobs received the options in his capacity as a director, pursuant to a plan to grant directors stock options. The plans requires shareholder approval at the company's annual stockholders meeting on April 22. Other directors also received stock-option grants.

William Campbell and Jerome York, who joined the board along with Jobs and Ellison, also received 30,000 shares in stock options. Existing board members Gareth Chang and Edgar Woolard received 15,000 shares in options.

Under the director's stock option plan, non-employee directors are entitled to receive an additional 10,000 vested stock options on the fourth anniversary of their election to the board, and each year after that. Executives previously were paid a retainer of $6,750 per quarter, $2,000 per board meeting attended, and $1,000 per committee meeting.

Jobs, Woolard, and Ellison stand for reelection at the stockholders meeting. Shareholders also are being asked to approve an executive officer stock plan for 1988 to "attract and retain" the best available personnel. It calls for setting aside about 13 percent of Apple's shares for the plan.

A "nationwide search" for a new CEO still is underway, Apple's proxy said.