Apple Computer CEO Steve Jobs is walking away this month with slightly more than half of the 10 million shares of restricted stock that the computer maker granted him.
The other chunk, which represents 4.57 million shares, or nearly $296 million, was withheld by Apple to pay for income taxes relating to the vested shares, according to filings with the U.S. Securities and Exchange Commission.
Uncle Sam walks away with millions of dollars, and Jobs doesn't do too badly, either.
The CEO still retains about 5.4 million shares, which were valued at nearly $351 million at the time of the transaction on March 19, according to the SEC filing.
Jobs was initially awarded the 10 million shares of restricted stock back in 2003, which had a three-year vesting cycle. The millions he could potentially reap from selling his vested stock would help cushion the $1 annual salary he has volunteered to accept as the company's CEO.
Prominent corporate governance organization says Facebook's dual-class stock structure gives CEO Mark Zuckerberg too much control over the company's future.
Google creates an animated doodle that features a boy, a girl, Google's search engine, and a jump rope. But might there be darker, more analytical, more troubling interpretations to this tale?
When the sun goes down, that's when the iPad gets busy for folks with news readers. The iPhone? It's more of a daytime habit. If you're building an app for both devices, heed the lesson.
Is the public ready for Samsung's new Galaxy Note device, which melds tablet and phone into one unique mobile device? We hit New York streets and received some surprising results.
EnerG2 opens a plant to make an engineered carbon that will improve performance of energy storage devices and make storage for start-stop hybrid cars less expensive.
Good grief.
Check out www.pcworld.com for real tech news and great product reviews.