Largest options grant
- Who
- Steve Jobs
- What
- 872000000 US dollar(s)
- Where
- United States
- When
- 2000
In 2000 Steve Jobs, CEO of Apple Computer Inc, received an options grant worth $872 million - the largest ever awarded to a CEO. An options grant gives an employee an option to purchase a specific number of shares of company stock for a limited period of time at a specified price (usually lower than the listed price). Options are normally granted as part of a compensation package and the terms may depend on the employee's position and negotiating posture.
Since he re-joined Apple in 1997, Jobs has only paid himself $1 a year. The $872-million figure refers to the face value of the options at the time they were granted, i.e the then-current price of the stock multiplied by the shares optioned. Options do not mean automatic wealth - this depends on whether the stock rises or drops.
Since he re-joined Apple in 1997, Jobs has only paid himself $1 a year. The $872-million figure refers to the face value of the options at the time they were granted, i.e the then-current price of the stock multiplied by the shares optioned. Options do not mean automatic wealth - this depends on whether the stock rises or drops.