According to a report in the Wall Street Journal, Apple is now requiring all executives to hold stock in the company that is worth triple their base salary. This new stock-holding requirement was quietly implemented on February 6.
An Apple spokesperson declined to comment on the change, but it comes during a tumultuous time for Apple. The company’s stock has plummeted 30% since its September high, competition with Samsung has heated up and the company is facing a shareholder lawsuit spearheaded by Hedge fund manager David Einhorn.
This executive stock requirement is common practice among large corporations. It is widely believed that executives perform better when they are owners of the company and not just employees.
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