Apple releases 2009 proxy statement
Yesterday, Apple released a proxy statement detailing the financial compensation that executives enjoy as part of their participation on the board of directors.
Steve Jobs retained his $1 salary for 2008, but has over 5.5 million shares of Apple stock, which is worth over $500 million on paper. Jobs is worth about $5.7 billion, thanks largely to the fact that he's Disney's largest individual shareholder. Fidelity Investments continues to be Apple's largest investor with over 46 million shares of stock.
There are five shareholder proposals up for voting this time around:
- Proposal 1 asks to re-elect the board of directors, consisting of Steve Jobs, William Campbell, Millard Drexler, Al Gore, Andrea Jung, Arthur Levinson, Eric Schmidt, and Jerry York.
- Proposal 2 asks for more transparency surrounding Apple's political contributions.
- Proposal 3 asks the company to adopt a statement supporting universal health care for everyone, and not just employees.
- Proposal 4 asks the company to release a report on corporate strategies surrounding climate change and greenhouse gas emissions before July.
- Proposal 5 asks to adopt a policy that gives shareholders more input on executive compensation. (Thanks, Scott!)
The board of directors, perhaps not surprisingly, recommends approving the first proposal, and rejecting the other four.
The proxy statement is available from Apple's Investor Relations website, and will not be mailed to shareholders unless requested.
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