Jobs Gets $1, Starbucks Execs Denied Bonuses

While Apple CEO Steve Jobs continued his tradition of being paid $1 in salary, Starbucks executives Howard Schultz, Jim Donald and Jim Alling saw their bonuses cut because the coffee company did not meet internal profit targets, according to a filing this week with the Securities and Exchange Commission.

Traffic at Starbucks' U.S. stores fell 1 percent last summer and it’s stock has stagnated, according to press reports. Schultz, Starbucks founder and chairman, this month returned to the role of chief executive. He kept his 2006 salary of $1.19 million plus received $8.58 million in option awards and another $861,398 in other compensation, according to the filing.

Except for the options, Schultz's compensation was down 57 percent from 2006, when he received a $2.38 million bonus. His options for 2006 were worth between $18.49 million and $46.86 million, depending on appreciation, according to Starbucks calculations.

Donald, who stepped down as CEO, received a salary of $1 million for 2007, up from $978,846 for 2006, plus option awards worth $6.49 million and $36,920 in other compensation. The company has not yet disclosed if it paid Donald any severance.

Alling was president of Starbucks' U.S. operations until September, when he became president of international operations. He did not receive a bonus because he did not meet goals set by the company, largely because of problems with U.S. operations.

Two executives who received scaled-back bonuses were Martin Coles, who became chief operating officer in September after being president of international operations, and Michael Casey, chief financial officer who has since retired.

Meanwhile, Apple made Jobs' salary public in a proxy statement filed in advance of the company's shareholders meeting, set for March 4. The proxy statement also said that Jobs gained $14.6 million on paper for exercising stock options that were set to expire in 2007, and that he currently owns about 5.5 million shares of Apple's stock, as reported by MarketWatch. Those shares are worth almost $765 million based on Apple's Wednesday closing price of $139.07