Apple has posted its 2012 proxy statement for investors. In the document, Apple reveals the compensation that its executives earned last year alongside more background information.
Notable facts from the document include CEO Tim Cook’s 2011 compensation, totaling an impressive $376,180,000.
Apple today announced that its 2012 proxy materials are now available a www.apple.com/investor under the US Securities and Exchange Commission’s Notice and Access rules. As a result of the Notice and Access rules, Apple is able to significantly reduce the environmental impact of producing and delivering printed materials.
Apple shareholders can still receive a printed copy of the proxy materials free of charge by following the instructions provided at www.apple.com/investor or in the Notice of Internet Availability of Proxy Materials that will be mailed to individuals who were Apple shareholders as of December 27, 2011. Apple’s 2011 Form 10-K was filed on October 26, 2011 and may also be viewed at www.apple.com/investor.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
The proxy statement also reveals that Steve Jobs was credited his annual $1 salary in 2011:
As of the end of 2011, Mr. Jobs owned approximately 5.5 million shares of the Company’s common stock. Since rejoining the Company in 1997, Mr. Jobs had not sold any of his shares of the Company’s stock. Mr. Jobs held no unvested equity awards. The Company recognized that Mr. Jobs’s level of stock ownership significantly aligned his interests with shareholders’ interests.
Tim Cook was recently awarded a comfortable stock bonus as the company’s new CEO:
Mr. Cook. In connection with Mr. Cook’s appointment as CEO and as noted above, the Board granted Mr. Cook 1,000,000 RSUs as a promotion and retention award. Fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2016 (five years after the award date) and fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2021 (ten years after the award date), subject to Mr. Cook’s continued employment with the Company through the applicable vesting date.
