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FEB 28, 2013 - MacRumors

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Apple Executives and Directors Required to Hold 3x - 10x Base Salary in AAPL Stock

Apple has changed its corporate bylaws [PDF] to require executives officers to hold three times their annual base salary in stock, with Non-Employee Directors holding five times their annual retainer and Tim Cook required to hold ten times his annual base salary in stock. The requirement for executives went into effect February 6th, while the requirement for Cook and the Directors went into effect back in November. From The Wall Street Journal: Calpers discussed the new executive-ownership requirement with the Apple board before the meeting, according to Anne Simpson, head of corporate ... Read More

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