Executive Compensation, Stock Options & Fiduciary Responsibilities
In the movie Pirates of Silicon Valley, there is a scene where co-apple founders Steve Wozniak and Steve Jobs have a discussion regarding the $116 million worth of stock options granted to Steve Wozniak. In the film Wozniak complains to Steve Jobs that the amount of stock granted to him was just too much for him to fathom, given his meager upbringing and current simple-lifestyle. Woz, as he is commonly referred to in the movie even informs Steve Jobs that he is going to give (transfer) some of his stock ownership rights to other early employees like Daniel Kottke, Apple’s first official employee. Although this was generous decision on behalf of Wozniak, according to Prof. Jeanne Calderon, Apple and it founders are not legally required to issue IPO to its original employees (Daniel Kottke) as long as the information expressed in the “IPO prospectus and the SEC registration process precisely corresponds with......

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Title: Executive Compensation, Stock Options & Fiduciary Responsibilities
Approximate Word Count: 3780
Approximate Pages: 16 (250 words per double-spaced page)

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