Apple Inc. Chief Executive Steve Jobs received a salary of $1 last year, according to documents filed Monday with the Securities and Exchange Commission.
Since returning in 1997 to the helm of the company he co-founded and catapulting Apple to record profits, the legendary Silicon Valley executive has opted to get only a token paycheck.
But as of March 20, Jobs, 52, still owns more than 5.4 million in restricted shares, worth about $490 million at Friday's closing stock price. The award is part of what's left of 10 million in split-adjusted restricted shares the company gave Jobs in March 2003. When the shares fully vested in March 2006, Apple retired more than 4.5 million of them to take care of related tax obligations.
For the fiscal year that ended in September, Jobs was reimbursed $202,000 for expenses related to the business use of his private plane, the regulatory filing said. The jet plane was an executive perk Jobs received back in 2001.
He also still holds 120,000 stock options granted to him as a director of the Cupertino-based company.
Shares of Apple have soared in the past year as the Macintosh maker not only grew its computer sales but also tapped a rich vein of revenue with its iPod portable music players. Its market capitalization has grown to more than $78 billion, and industry analysts expect Apple's fortunes will only swell with the iPhone, a smart phone-iPod combination scheduled to go on sale in June.
Apple shares closed Monday at $91.43, up $1.19 from Friday's close, and up more than 80 percent from its 52-week low of $50.16.
Jobs' total compensation for the fiscal year was not explicitly disclosed in the regulatory filing as the company used older guidelines that were still applicable for its latest fiscal year. Under new rules this year, companies are required to provide more detail, such as stating the total value of option awards that vested during the fiscal year.
Jobs, who was also the former CEO of Pixar Animation Studios, had held more than 50 percent of that company's stock and became The Walt Disney Co.'s single largest shareholder after Disney acquired Pixar last year.
Forbes magazine recently ranked Jobs as the world's 132nd richest man, pegging his net worth at $5.7 billion.
Both Apple and Pixar are under federal scrutiny over stock options accounting. Though both companies' internal probes cleared Jobs of any wrongdoing in the backdating of thousands of options, federal authorities are continuing their investigations.
