While Apple CEO Steve Jobscontinued his tradition of being paid $1 in salary, Starbucksexecutives Howard Schultz, Jim Donald and Jim Alling saw their bonuses cutbecause the coffee company did not meet internal profit targets, according to afiling this week with the Securities and Exchange Commission.
Traffic atStarbucks’
Except for theoptions, Schultz’s compensation was down 57 percent from 2006, when he receiveda $2.38 million bonus. His options for 2006 were worth between $18.49 millionand $46.86 million, depending on appreciation, according to Starbuckscalculations.
Donald, whostepped down as CEO, received a salary of $1 million for 2007, up from $978,846for 2006, plus option awards worth $6.49 million and $36,920 in othercompensation. The company has not yet disclosed if it paid Donald anyseverance.
Alling waspresident of Starbucks’
Two executiveswho received scaled-back bonuses were Martin Coles, who became chief operatingofficer in September after being president of international operations, andMichael Casey, chief financial officer who has since retired.
Meanwhile,Apple made Jobs’ salary public in a proxy statement filed in advance of thecompany’s shareholders meeting, set for March 4. The proxy statement also saidthat Jobs gained $14.6 million on paper for exercising stock options that wereset to expire in 2007, and that he currently owns about 5.5 million shares ofApple’s stock, as reported by MarketWatch. Those shares are worth almost $765million based on Apple’s Wednesday closing price of $139.07