Apple Executives and Directors Required to Hold 3x - 10x Base Salary in AAPL Stock
Apple has changed its corporate bylaws [PDF] to require executives officers to hold three times their annual base salary in stock, with Non-Employee Directors holding five times their annual retainer and Tim Cook required to hold ten times his annual base salary in stock.
The requirement for executives went into effect February 6th, while the requirement for Cook and the Directors went into effect back in November.
From The Wall Street Journal:
Calpers discussed the new executive-ownership requirement with the Apple board before the meeting, according to Anne Simpson, head of corporate governance for Calpers, who declined to elaborate. The fund has long regarded executive stock ownership "as standard good practice," she said. "It's part of our conversation with all companies we engage." Ms. Simpson said in an interview Wednesday that "there are other changes in the works related to executive pay."
Proposal No. 5, an item that was voted on at the recent Apple Shareholder's Meeting, would have required executives to hold 33 percent of their equity pay until retirement. Apple felt this requirement was too onerous and instead adopted stockholding requirements relating to base yearly salary.
The base salaries of most senior executives will be $875,000 for 2013, while Tim Cook's salary will be $1.4 million this year. Non-employee board members receive a $50,000 yearly retainer.
Popular Stories
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
Apple plans to release an all-new super thin iPhone this year, debuting it alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We've seen pictures of dummy models, cases, and renders with the design, but Lewis Hilsenteger of Unbox Therapy today showed off newer dummy models that give us a better idea of just how thin the "iPhone 17 Air" will be.
The iPhone 17 Air is expected to be ...
If you missed the video showing dummy models of Apple's all-new super thin iPhone 17 Air that's expected later this year, Sonny Dickson this morning shared some further images of the device in close alignment with the other dummy models in the iPhone 17 lineup, indicating just how thin it is likely to be in comparison.
The iPhone 17 Air is expected to be around 5.5mm thick – with a thicker ...
A developer has demonstrated Windows 11 ARM running on an M2 iPad Air using emulation, which has become much easier since the EU's Digital Markets Act (DMA) regulations came into effect.
As spotted by Windows Latest, NTDev shared an instance of the emulation on social media and posted a video on YouTube (embedded below) demonstrating it in action. The achievement relies on new EU regulatory...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we often get rumored features months ahead of launch. The iPhone 17 series is no different, and we already have a good idea of what to expect from Apple's 2025 smartphone lineup.
If you skipped the iPhone...
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025:
Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
Apple seeded the third beta of iOS 18.5 to developers today, and so far the software update includes only a few minor changes.
The changes are in the Mail and Settings apps.
In the Mail app, you can now easily turn off contact photos directly within the app, by tapping on the circle with three dots in the top-right corner.
In the Settings app, AppleCare+ coverage information is more...