The Mac Observer

Skip navigational links

Featured Article: Apple to Replace Defective MacBook Pro Video Chips

AAPL Shareholders Pass Exec Pay Measure Request

by , 5:40 PM EST, March 4th, 2008

Apple Inc.'s shareholders approved Tuesday a measure urging Apple to give shareholders an advisory capacity concerning executive compensation, according to Marketwatch. The vote was officially tallied at a shareholder meeting at the company's Cupertino, CA headquarters.

The measure is little more than a request, and is effectively non-binding. It follows more direct efforts from some activist shareholders in the past to limit or otherwise give shareholders more direct say in the way the company pays its top execs.

In response to the vote, Apple CEO Steve Jobs told shareholders on hand for the meeting, "I hope this say on pay will help me with my $1 a year." Mr. Jobs has earned US$1 per year in salary since he returned to the company in 1997, though he has also earned a not-so-small fortune in stock grants, as well as a private jet he uses for company-related travel. Apple picks up the tab for those travel expenses.

The issue of shareholder concern over executive compensation was perhaps at its height during last year's shareholder meeting when votes were withheld for several boardmembers due to a stock option backdating scandal. Shareholders were concerned that the board of directors for Apple was not keeping company execs in check.

Also of concern was the level of executive compensation, including stock and option grants made to Steve Jobs and other executives. While Apple has performed incredibly well during the last several years, and the company's stock is still up many fold, even after a 30% downslide since the first of the year, there has been a growing movement against skyrocketing executive pay at most large publicly traded corporations, Apple included.

So far, today's vote asking for a shareholder role in executive compensation is the strongest measure passed by Apple's investors.

Shares in AAPL closed at $124.62, a gain of $2.89 (+2.37%).

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Observer Comments

Show: Subjects Only | Full Comments
Comment on this Article

Log in | Register | Having Problems? Reset TMO Cookies & Try Again
Username:   Password:   Log me on automatically each visit   

You are not logged in, and this post will appear as "Guest." Log in with your username and password from the TMO forums. If you do not have a username, you can register here.
Please note that guests are limited to including a maximum of two URLs per post.


Post A Comment
  Subject


  Your Comments



Please enter the word exactly as you see it in the image above. Registered users aren't prompted for this. Having trouble reading the image get a new one.


Recent Headlines - Updated Monday, October 13th, 2008

Mon., 10:25 PM
Podcast - Mac Geek Gab #172: Maintenance Utilities, Wiring For Broadband, System Preferences Issues and Cool Stuff Found
4:40 PM
AAPL Surges to over $110 As DJI Gains Nearly 1,000 Points
4:00 PM
Apple Earns Excellence in Retailing Award
2:55 PM
Analyzing the MacBook's Importance to Apple
1:55 PM
OpenOffice 3.0 Released with Support for new MS File Formats
12:55 PM
CNBC: Apple Likely to Hit Goldilocks Price With New MacBook
12:25 PM
iPodObserver - Google Android G1 Phone Orders Climb to 1.5 Million
11:40 AM
Aquafadas Intros VideoPier
11:15 AM
TMO Live Coverage: Apple's Notebook Media Event
10:55 AM
Leaked Apple Docs Confirm New MacBook Models
10:25 AM
Hot Forum Topic - Going Digital from Vinyl
10:05 AM
Sanford Bernstein Upgrades AAPL to Buy
9:25 AM
Baseline 1.4 Adds Time Machine Support
8:50 AM
PopCard 3 Improves Security, Performance
8:15 AM
iPodObserver - Rumor: iPhone 3G Coming to Wal-Mart
7:35 AM
MediaEdit 3.1 Adds New Paint Tools, Improves Video Capture
 

The Mac Observer Reader Specials

  • Download Typestyler, still the Ultimate Styling Tool for Internet, Print and Video Graphics. Works great in Classic with a Native OS X Version on the way. Free Tryout: www.typestyler.com
  • OWC: NewerTech NuPower Batteries for iBook and PowerBooks Designed+Built in USA to run longer, LAST LONGER TOO! Free Battery Recycling Return Label; Quality High-Capacity from $99.95
  • New MacPro Memory 800Mhz With Apple Spec Heat Sink 2GB $88 / 4GB $138 / 8GB $274 - Click to Maximize your Macs...
  • Mac observers can now play Party Poker for Mac as well as Mac casino games by going to MacPokerOnline.com.
  • RamJet Memory: Mac Pro FB-DIMMs: 2Gig kit $95, 4Gig Kit $179, 8Gig Kit $355! MacBook 2Gig Kit $78, 4Gig Kit $149! Click here
  • For the latest Apple products use Ciao a comparison website to find laptops like MacBook Air. Then find the best prices on MP3 players and use our comparison tool to evaluate cell phones.

  • Laptop Hardware Provided by TechRestore - Overnight Mac & iPod Repairs.
  • Special Report: iPhone
  • __________
  • Help TMO Grow
  • Macworld Expo - Hotel Deal
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!

Apple Stock Quote

  • AAPL: $110.26. Change Today: +21.52.
  • (Prices delayed up to 20 minutes.)
  • Discuss in our Apple Finance Board

Hot Topics

Top Deals From DealsOnTheWeb