Apple Unveils 2009 Proxy Statement: Key Details Revealed

In a recent disclosure through a proxy statement, Apple outlined the compensation details for its executive team members who also serve on its board.

Despite maintaining a nominal annual salary of $1 for 2008, Steve Jobs holds over 5.5 million shares in Apple, translating to a market value of approximately $500 million. Jobs’ substantial wealth, estimated at around $5.7 billion, is primarily due to his significant stake in Disney, making him the largest individual shareholder of the media giant.

Fidelity Investments remains the largest institutional investor in Apple, holding over 46 million shares.

Shareholders are presented with five proposals for the upcoming vote:

  • The first proposal is to re-elect the current board of directors, which includes notable figures such as Steve Jobs, William Campbell, Millard Drexler, Al Gore, Andrea Jung, Arthur Levinson, Eric Schmidt, and Jerry York.

  • The second proposal seeks increased transparency in Apple’s political donations.

  • The third proposal advocates for the company to endorse a universal health care policy that benefits all, not just Apple employees.

  • The fourth proposal demands a detailed report on Apple’s approach to climate change and its strategies to reduce greenhouse gas emissions, to be released by July.

  • The fifth proposal encourages a policy that allows shareholders greater influence over executive compensation. (Thanks, Scott!)

The board has recommended a vote in favor of the first proposal and advised against the remaining four.

Details of these proposals can be accessed on Apple’s Investor Relations website.

Shareholders can request a mailed copy of the proxy statement if needed.

[Source: MacDailyNews.]

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Donald is a dedicated writer for TUAW, bringing readers the latest insights and updates on all things Apple. With a keen eye for detail and a love for technology, Donald covers everything from the newest iPhone releases to the latest macOS updates. His articles are known for their clarity and depth, making complex topics accessible to all. When he’s not writing, Donald enjoys exploring the capabilities of his MacBook Pro and capturing moments with his iPhone camera.