Apple releases proxy statement in SEC filing
Apple has revealed the first information about its upcoming 2013 fiscal year in a proxy statement filed to the SEC this week. You can read the entire document on the SEC's website, but we can run you through the major points right here and now.
First up, Apple discloses what Tim Cook was paid during 2012, and it's a little more than the $1 that Steve Jobs was officially paid to run the company (though of course Steve made much more than that in various bonuses and perks). In 2012, Cook's base salary was $1.4 million, up $900,000 from the year before. Bonuses for senior execs reached maximums of 100 percent and 200 percent, and the base salary of the major executives went up as well, from $800,000 to $875,000, due to the "additional responsibilities" the team took on last year.
The statement also detailed the package that helped entice Senior Vice President Bob Mansfield to stay with the company, which included a modification of Mansfield's stocks which allowed them to vest earlier than planned, as long as he stays with the company. Finally, the statement announced Apple's first shareholder meeting of 2013, which will take place on February 27 at Apple's headquarters in Cupertino.
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