“Apple Inc. on Monday released its annual proxy statement, which came out with a proposal by two shareholders groups that would alter how stock-option prices are determined for senior Apple executives,” Rex Crum reports for MarketWatch.
Crum reports, “The proposal — sponsored by the New York-based Amalgamated Bank LongView Collective Investment Fund and the Connecticut Retirement Plans and Trust Funds, of Hartford, Conn. — calls for any standard options granted to senior Apple executives to be given an exercise price that is equal to the average opening and closing prices of Apple stock on the day that the options are given. The measure also calls for any grant dates in a fiscal year to be disclosed in advance.”
“Apple said it opposed the proposal, arguing that it doesn’t apply to the company’s current equity-compensation practices. Apple also said that it hasn’t granted any options to senior management since 2003, and has instead given such officials restricted stock grants that don’t have an exercise price,” Crum reports. “The company added that its shareholders would vote on the measure, five other shareholder proposals and four company-sponsored items, as well as elect Apple’s board of directors at the annual meeting, scheduled for May 10 at its Cupertino, Calif. headquarters.”
Full article here.
crickets…
MDN word is last, as in I hope this is the last time we hear about this.
Wow. This story has been up for almost an hour and I believe I am making the second post.
This is typical of shareholder groups who think they yield more influence than they have.
Maybe this would be a good place to ask a question or pertinence.
Can anyone tell me of a good anti microsoft news type of website?
Let steve run the friggin company. Everyone knows they and everyone else is under the watchful eye of the SEC.
GDammed shareholders are destroying Apple again
The first time was when they booted Steve Jobs and elected “soda water salesman” John Scully to run Apple.
Sure Apple made most of it’s profits after Steve Jobs left, but it was because of the groundwork Steve jobs laid with GUI and the Macintosh.
All successful innovation failed after Steve left, innovation is the lifeblood of the company and profits.
Let’s not worry about this until it passes. I suspect that with Steve and the Board’s influence it will not pass. Anyway, most people just sign the proxy and send it in, assuming they vote at all.
FOOD FIGHT !!!!!!!