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  • Jobs to take no compensation for siting on Disney Board...

    Jobs is my hero...

    That's all I can say... I wonder if he goes to the board meetings in his outfit...
    Check out my other blog:

  • #2
    Re: Jobs to take no compensation for siting on Disney Board...

    On top of not getting any compensation here is what he makes over at Apple:
    Basic Compensation-
    Total Annual Compensation $1
    Long-Term Incentive Plans $0
    All Other $0
    Fiscal Year Total $1

    Options Compensation
    Quantity
    Exercisable 120,000
    mkt value:$5,694,000
    Unexercisable 0
    mkt value:$0
    Exercised 0
    proceeds:$0

    Anybody have his explanation for why? Not only why he decided not to take compensation for being on the Disney Board but also why does he only have a $1 salary? It's not a typo.
    Infinity and Beyond:
    The technology of today is changing the media of tomorrow.
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    • #3
      Re: Jobs to take no compensation for siting on Disney Board...

      I think it is partly because he feels it is a conflict of interest...
      Check out my other blog:

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      • #4
        Re: Jobs to take no compensation for siting on Disney Board...

        Wow. $1 a year salary? Thats insanity!

        Photos, news, and commentary every week from Walt Disney's Magic Kingdom!

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        • #5
          Re: Jobs to take no compensation for siting on Disney Board...

          If I remember correctly the $1 salary is a tax thing. Unless he exercises the options, there's no income per se. It's one of the rich man type tax sidesteps.

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          • #6
            Re: Jobs to take no compensation for siting on Disney Board...

            He came back to apple at a time when it was down and out and he told the then management group that it wasn't fair for him to take money from a company when they were laying people off and doing so bad so the deal was he would come back and run the company and take 1$ a year as salary. however he got stock options and when you own stock and buy stock you get dividends... so he could buy and sell stock and make money that way. and lets see he owns how much disney stock now? at a few cents a share every year... he is well compensated for being a board member.

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            • #7
              Re: Jobs to take no compensation for siting on Disney Board...

              Originally posted by jurgenb52
              On top of not getting any compensation here is what he makes over at Apple:
              Basic Compensation-
              Total Annual Compensation $1
              Long-Term Incentive Plans $0
              All Other $0
              Fiscal Year Total $1

              Options Compensation
              Quantity
              Exercisable 120,000
              mkt value:$5,694,000
              Unexercisable 0
              mkt value:$0
              Exercised 0
              proceeds:$0

              Anybody have his explanation for why? Not only why he decided not to take compensation for being on the Disney Board but also why does he only have a $1 salary? It's not a typo.
              I bet he owns a lot of stock. When he came on board I bet he was given stock instead.

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              • #8
                Re: Jobs to take no compensation for siting on Disney Board...

                Originally posted by Cmash95
                He came back to apple at a time when it was down and out and he told the then management group that it wasn't fair for him to take money from a company when they were laying people off and doing so bad so the deal was he would come back and run the company and take 1$ a year as salary. however he got stock options and when you own stock and buy stock you get dividends... so he could buy and sell stock and make money that way. and lets see he owns how much disney stock now? at a few cents a share every year... he is well compensated for being a board member.
                Exactly. I mean if he did not own stock, he would be extremely poor.

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                • #9
                  Re: Jobs to take no compensation for siting on Disney Board...

                  Actually most of his stock options are not exercised. That means that he does not own the stock so he does not receive dividends.
                  Jiminy Cricket Fan
                  .................................

                  Love Disneyland and Walt Disney World!

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                  • #10
                    Re: Jobs to take no compensation for siting on Disney Board...

                    Well then how the heck did he become so rich if he barely gets money?? :lol:

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                    • #11
                      Re: Jobs to take no compensation for siting on Disney Board...

                      Originally posted by jurgenb52
                      On top of not getting any compensation here is what he makes over at Apple:
                      Basic Compensation-
                      Total Annual Compensation $1
                      Long-Term Incentive Plans $0
                      All Other $0
                      Fiscal Year Total $1

                      Options Compensation
                      Quantity
                      Exercisable 120,000
                      mkt value:$5,694,000
                      Unexercisable 0
                      mkt value:$0
                      Exercised 0
                      proceeds:$0

                      Anybody have his explanation for why? Not only why he decided not to take compensation for being on the Disney Board but also why does he only have a $1 salary? It's not a typo.
                      He's been doing this for years at apple (since he returned in 1997). It's in part his way of showing 'all in' and proving he's not in it for simply money.

                      But what you didn't quote was some of the perks he DOES take from the company. Like the learjet he got and the operating expenses of the jet (in the tens of thousands of dollars a year) the company pays when he's on 'company' business.

                      This is just standard Job's fair for the last 8+ years. What will be interesting is what he finds to wet his whistle now.. he didn't need anything from Apple because he also had pixar crankin.. now he doesn't have that cash cow.

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                      • #12
                        Re: Jobs to take no compensation for siting on Disney Board...

                        Originally posted by JiminyCricketFan
                        Actually most of his stock options are not exercised. That means that he does not own the stock so he does not receive dividends.
                        If you read through the annual reports.. he does get alot, just not always in conventional ways. He's the poster child for creative compensation

                        Gotta remember too.. he's been rich since the 70s

                        Even without options.. he's one of the top shareholders of apple. He has over 5 million shares.

                        http://biz.yahoo.com/t/45/4149.html

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                        • #13
                          Re: Jobs to take no compensation for siting on Disney Board...

                          Originally posted by Disney Wrassler
                          Well then how the heck did he become so rich if he barely gets money?? :lol:
                          Well he DID co-found Apple.. which he ran until 1986. He started NeXT which he sold to Apple in 1997. And he DID ride Pixar from its days from ILM to where Disney just bought it. Those I would consider.. uhmm.. successful money ventures just to name a few

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                          • #14
                            Re: Jobs to take no compensation for siting on Disney Board...

                            Thanks for the info... found out a little bit more on the topic

                            "Jobs worked at Apple for several years with an annual salary of $1, and this earned him a listing in Guinness World Records as the "Lowest Paid Chief Executive Officer". At the 2000 keynote speech of Macworld Expo in San Francisco, the company dropped the "interim" from his title. His current salary at Apple officially remains $1 per year, although he has traditionally been the recipient of a number of lucrative "executive gifts" from the board, including a $90 million jet in 1999, and just under 30 million shares of restricted stock in 2000-2002. As such, Jobs is well compensated for his efforts at Apple despite the nominal one-dollar salary. This effectively reduces his tax liability, because under current U.S. tax law, salary income is taxed at a top rate of 35%, whereas capital gains tax, which applies to stock grants, maxes out at 15% for profits derived from long-term capital gains. Obtaining remuneration through stock instead of income is a common tax minimization strategy for many upper-echelon U.S. executives."
                            Infinity and Beyond:
                            The technology of today is changing the media of tomorrow.
                            http://www.infinityandbeyond.tabert.com/

                            Comment


                            • #15
                              Re: Jobs to take no compensation for siting on Disney Board...

                              moeny he gets from dividennds from his restricted stock are considered iincome for tax purposes. I know this from experience. My husband was given several shares of his company's restricted stock and we get dividends from the stock but we don't get the stock for several years and that depends on how the company does. anyway the dividends are listed as income on the w-2 form at the end of the year and they are taxed as such. Like i said earlier he has enough stock restricted or unrestricted that he can live on the dividends he gets.

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