Archive for December, 2012

Title: Apple CEO Rakes in $4.2M in 2012, Plummeting From $378M in 2011

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Apple CEO Tim Cook will pocket $4.17 million in 2012, a significant dip from the $378 million salary he received in cash and stocks last year.

According to a proxy statement filed with the United States Securities and Exchange Commission, Cook’s base salary is $1.35 million with non-cash compensation making up the remainder of the payment.

That is a big change from the $378 million he received last year and the $59 million he was handed in 2010. The drop in compensation is not a punishment, however — it is all part of the company’s plan.

According to The Next Web, Apple’s board of directors gave Cook 1 million in restricted shares when he was appointed CEO in August 2011. Those shares, worth roughly $376 million at the time, were a promotion and retention award.

Half of those shares will be vested Aug. 24, 2016, the other half on Aug. 24, 2021.

Given the large financial reward in Cook’s future, the compensation committee did not grant him additional stocks this year.

Cook has, however, enjoyed healthy raises each year. He was paid $800,016 in 2010, $900,017 in 2011 and $1,357,718 this year.

“In deciding to increase the cash compensation for Mr. Cook, the Compensation Committee considered the Company’s financial results, Mr. Cook’s responsibilities as CEO, and his total cash compensation opportunities as compared to the total cash compensation opportunities of the other named executive officers as well as the total cash compensation opportunities of CEOs at peer companies,” the proxy statement reads.

“The target annual cash compensation for Mr. Cook remains significantly below the median annual cash compensation level for CEOs at peer companies.”

Cook may not be paid as much as his contemporaries at other technology companies, but he is paid significantly more than his predecessor, the late Steve Jobs.

Jobs was famous for his annual $1 salary. His compensation came in the form of stocks and non-cash incentives.

The proxy statement also details compensation for Apple’s other senior executives.

Chief financial officer Peter Oppenheimer, senior vice-president of technologies Bob Mansfield, senior vice-president and general counsel Bruce Sewell and senior vice-president of operations Jeffrey Williams all raked in $805,400.

Their base salary will increase to $875,000 in 2013.

Mansfield received $85.5 million in stock and non-cash compensation, Sewell $68.9 million, Williams $68.6 million and Oppenheimer $68.5 million.

Each was given 150,000 restricted shares (RSUs) in 2012.

The filing indicated 50 percent of the awards are to be vested in June 2013, and the other 50 percent in March 2016.

 

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Apple CEO Rakes in $4.2M in 2012, Plummeting From $378M in 2011

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Title: How To Rank #1 In Google: The Best Of Matt Cutts 2012

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Title: McAfee Pretended to Be Crazy, Faked Illness

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The creator of the McAfee antivirus program came clean in an interview with ABC News Dec. 13 — he admitted to playing the “crazy card.”

“What’s a better story, millionaire mad man on the run,” John McAfee said. “You [the media] saved my ass. Because you paid attention to the story. As long as you are reporting, it is hard to whack somebody that the world is watching.”

McAfee, who is back in the U.S. after being deported from Guatemala Dec. 12, has maintained those in power in Belize want him dead.

McAfee was arrested in Guatemala Dec. 4 after entering the country illegally from Belize where he is wanted for questioning in connection with the murder of his neighbor Gregory Faull, who was found shot to death Nov. 10.

While Guatemala officials debated whether to send him back to Belize or grant his request for asylum, McAfee supposedly had a minor heart attack in his jail cell. He was rushed to hospital by ambulance.

He told ABC News, however, his illness was merely a ploy to buy time until a judge could hear his case and stay his deportation.

“It was a deception but who did it hurt? I look pretty healthy, don’t I?” he told ABC.

When asked by ABC if he considers Belize officials incompetent, he was blunt: “I was on the run with a 20-year-old girl for three-and-a-half weeks inside their borders and everyone was looking for me, and they did not catch me.”

“I escaped, was captured and they tried to send me back,” he said. “Now I’m sitting in Miami. There had to be some ineptness.”

If the Belize Police decide to charge McAfee with an extraditable offense and request his extradition, however, he could be sent back to the country — the U.S. has an extradition treaty with Belize.

McAfee says his life would be in danger if he were to be returned to Belize because he is in possession of sensitive information about official corruption and refuses to give money to local politicians.

Belize police have refuted McAfee’s claims and Belize Prime Minister Dean Barrow has publicly expressed doubts about McAfee’s mental state, calling him “bonkers.”

Although McAfee has denied having anything to do with the murder of his neighbor, he told ABC he is more interested in getting his girlfriends, 20-year-old Sam and 17-year-old Amy, out of Belize then in clearing his name.

During the time McAfee lived in Belize, he reportedly was involved in various quarrels with neighbors and the police regarding complaints his dogs were aggressive and he kept illegal weapons and drug paraphernalia in his home. McAfee admitted his dogs were troublesome and that Faull had complained about them, but has said he did not shoot Faull who lived a few houses down from him.

McAfee’s month on the run with his 20-year-old girlfriend Sam garnered global attention due to his contact with reporters and frequent blog posts detailing his escapades, which included donning disguises, hiding out in dingy motel rooms and even the jungle.

Now that he is in Miami, McAfee says he does not know where he will live.

He also ABC he is penniless — he left $20 million in investments behind in Belize where he also owns about 15 properties and the beach-front compound in which he lived.

“I have nothing now,” McAfee said. “I’ve got a pair of clothes and shoes, my friend dropped off some cash.”

 

 

 

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McAfee Pretended to Be Crazy, Faked Illness

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