Apple Pays Steve Jobs $1 Salary in 2009
Apple said late Wednesday that Chief Executive Steve Jobs kept with his tradition of receiving $1 in annual salary in 2009. Apple made the disclosure in a preliminary proxy statement sent to its shareholders in advance of the company's annual meeting, scheduled for February 25, 2010.
Jobs, 54, has been paid a $1 annual salary since 1997 and did not receive any bonuses or stock awards in 2009 according to the company’s filing with the SEC on Wednesday.
Jobs currently owns 5.5 million shares of Apple and has yet to sell a single share in his 12-year tenure. Jobs has not received any new equity since 2003.
The year has not been smooth sailing for Jobs as he took a five and a half month leave of absence from the company due to a medical condition that required a liver transplant. At the time, some speculated that Jobs may have been terminally ill.
In 2008, the value of Jobs' stake in the company he founded was cut in half as investors worried Apple's pricey gadgets might not fare well through the U.S. recession. But shares of the maker of iPods, iPhones and Mac computers gained about 42 percent during the 2009 fiscal year that ended in September, and at the close of trading Wednesday, when Apple's stock reached $202.10, Jobs' holdings were worth about $1.1 billion.
Jobs is also the largest individual shareholder of The Walt Disney Co. His 7.4 percent stake is currently worth about $4.5 billion.
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