Apple CEO Jobs exercises options to buy 120,000 shares of AAPL

“Apple Inc. Chief Executive Officer Steve Jobs, who received $1 in salary last year, may reap a potential profit of $13.7 million by exercising options to buy shares,” Phil Serafino reports for Bloomberg.

“Jobs bought 120,000 shares for $5.75 apiece this week, according to a regulatory filing yesterday. The Cupertino, California-based company gave Jobs the options under a 1997 plan for directors, according to an April filing. Jobs hasn’t sold the shares and has no plans to do so at this time, Apple said,” Serafino reports.

“Jobs now owns 5.55 million Apple shares, worth about $665 million, based on yesterday’s closing price. His options on the 120,000 shares would have expired Aug. 14,” Serafino reports.

Full article here.

29 Comments

  1. You have to admire the man for only taking a $1 salary. Since he gets most of his earnings from shares. If the company doesnt make money, he doesn’t. That is incentive enough to make the company profitable.

  2. @MacTech84

    Yeah, but like Cedric said. The man is so frickin rich already, does he really even need to make more? Does it even make a difference if Apple pays him a $1 dollar salary or a 10 million dollar salary?

    He could buy a one million dollar house every single day for an entire year and that 365 million dollars spent wouldn’t even make a dent in his net worth of nearly 6 billion.

  3. Rich people are so boring. If I were that rich, I would plan and execute elaborate hoaxes just to mess with people.

    I would also do strange things like go around buying things in vending machines and then leaving them in the slot, or filling the change slot with coin returns.

    Then again, people who are rich generally aren’t the type to waste money, as that’s part of why they’re rich.

  4. So basically when he files income tax, how much of tax break is it since he makes only $1 of annual salary? I’m sure his stock sales and purchases come into play, but it’s smart from a tax standpoint as well I would think.

  5. Only by owning more than 50% of Apple can Steve Jobs guarranty that the company stay headed in the direction of His Chosing and us Sheep blindy follow.

    I’ll become faithful again when the security issues dissapear for at least three years and the matte screens return.

    Till then, PRAISE UNCLE FESTER!!

    throw me a chair will you buddy?

    Quack

  6. Ok, let’s see if I know how to figure this properly –

    Steve has about 5,500,000 shares

    Last Quarter’s Results show ‘profit’ of $0.92 per share (‘diluted’, whatever exactly that is?)

    http://www.apple.com/pr/library/2007/07/25results.html

    Am confident that Steve hasn’t ‘cashed-in’ (m)any shares along the way. So that $665,000,000 is just on ‘paper’, which is to say it’s meaningless unless the stock shares are sold, yes ?

    Therefore – along with the $1.00 per year, he got paid about $5,000,000 in real cash last quarter on his ‘share profits’, yes ?

    And all of you other ‘shareholders’ also get a check/cash (or eggs/chickens/or something else of ‘value’) for $0.92 for each share you hold ?

    Is that pretty much correct ?

    Thanks, BC

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