Apple CEO Still Takes $1 Salary

CUPERTINO, Calif. ( TheStreet) -- Apple ( AAPL) CEO Steve Jobs was paid a salary of just $1 in 2010, according to a regulatory filing, although the gadget maker's COO Tim Cook received total compensation of $59.1 million.

"The company believes Mr. Jobs's level of stock ownership significantly aligns his interests with shareholders' interests; his total compensation consists of a salary of $1 per year," said Apple in the SEC filing.
Apple CEO Steve Jobs

The iconic Apple chief has received a salary of $1 a year since he rejoined the company in 1997, according to the proxy statement. He also holds 5.5 million shares of Apple's common stock. Jobs has not sold any of his shares since his return, it said.

Cook, who took Apple's reins during Jobs' medical leave of absence in 2009, received a $5 million bonus in 2010, as well as $52.3 million in stock awards. The former IBM ( IBM) and Compaq executive received a base salary of $800,000 in 2010, although this was increased to $900,000 in September.

The COO's total 2010 compensation was up from $1.6 million in 2009, when he did not receive any stock awards or bonus.

The company's CFO Peter Oppeheimer received total compensation of $29.8 million in 2010, according to the filing, compared to $1.4 million in 2009.

Apple enjoyed a stellar year in 2010, boosted by the iPad launch and the continued popularity of the iPhone, which is widely expected to arrive at the nation's largest wireless carrier, Verizon ( VZ), later this year.

The consumer tech giant brought in revenue of $62.5 billion, a hike of 52% on the prior year.

The company reports its fiscal first quarter earnings on January 18. TheStreet will live-blog the conference call with executives.

Investors flocked to Apple's stock in 2010, and the company's shares have risen more than 58% in the last 12 months.

Apple shares dipped 21 cents, or 0.06%, to $333.52 on Friday as the Nasdaq slipped 0.27%.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

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