Disqus
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.
[Via WSJ]
About The Author
Kelly Hodgkins
Kelly spent the last four years covering mobile technology at places like BGR, Gizmodo and The Unofficial Apple Weblog. Before writing, she spent a few years working with and teaching others how to use Adobe Flash and Macromedia Director. Even earlier than that, she spent several years as a Ph.D student in Microbiology. When she's not writing, she can be found fishing the lakes and hiking the mountains of Western Maine with her husband and tribe of children. You can follow her on Twitter @kellyhodgkins.
