Apple CEO Jobs Takes $1 Salary Again in 2001

Apple Computer Inc. Chief Executive Steve Jobs took a salary of $1 in the last fiscal year while other top executives were rewarded with options for 1million shares each, a major increase in compensation, according to a filing with securities regulators.

Apple, which saw sales fall 33% in its fiscal year that ended in September, paid founder and CEO Jobs $1 again in 2001, the same salary he has drawn since 1999, the company said in its annual report filed with the Securities and Exchange Commission.

Chief Financial Officer Fred Anderson and three other senior executives were granted 1million share options, after having not been granted any such payment in 2000.

The 10-year executive options, which carry an exercise price of $16.81, were worth just over $5million and could be worth as must as $26.8million if Apple shares appreciate by 10% annually, according to the company’s SEC filing.

Separately, Apple said it expects a small loss in its retail operations for the current fiscal quarter and in all of fiscal 2002, citing the weakening economy and terrorist attacks.

Apple originally forecast the retail operation would break even in the current quarter and make a small profit this fiscal year, but scaled back its goals for the business when reporting fiscal fourth-quarter results in October.

Apple launched its first retail outlets in May and opened 27 during the year.

Shares of Cupertino, Calif.-based Apple closed up 13 cents to $21.49 on Nasdaq.