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Apple now requires executives to hold 3x salary in stock [U]

02/28, 6:45pm

Change may have come from persuasion by Calpers

[Updated with details, stock grants for BoD] Despite recommending (and obtaining) a "no" vote on a similar measure, Apple has updated its bylaws and now requires executive officers to hold at least three times their annual salary in AAPL stock, reports the Wall Street Journal. The rule adopted by Apple has significant differences from the proposal put forth at Apple's annual shareholder meeting, but embraces the same principle -- that executives (and in this case non-executive directors as well) need to be personally invested in the companies they manage.

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Apple execs net total of $26.6m for 2007

01/23, 11:30pm

Apple execs salary in 2007

Apple's executive officers have taken home a considerable sum during 2007, with salaries ranging from $500,000 to $700,000, and stock option grants equaling that of the individualís base salary. Despite his infamous $1 yearly salary, CEO Steve Jobs still holds the majority of company stock with 5.5 million shares, 5 million of which was a gift from the company in March 2003. Jobs also received a $43.5 million Gulfstream V jet as a bonus for outstanding performance from 1997 to 1999.

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