5 Apple Execs Take Home $65.5M in Stock Profits
First on TMO - 5 Apple Execs Take Home $65.5M in Stock Profits
by , 9:20 AM EST, January 28th, 2005
With Apple Computer's (AAPL) stock at a five-year high of over US$73.00 a share, five company executives cashed in stock options and common stock purchasing plans in the last week. The transactions totaled in excess of $65.5 million, according to calculations by The Mac Observer from ownership statements filed with the US Securities and Exchange Commission.
The SEC filings were broken down by each executive, the buying and selling price of each share and the number of shares per each lot. The statements do not include total profits. TMO calculated each transaction to come up with those total profits.
Apple's Chief Software Technology Officer, Avadis Tevanian, Jr., (see photo below) took home the biggest profit among the five executives, selling a total of 300,000 shares of employee stock options on Jan. 20, making a total profit of $16,321,910.00, according to a detailed analysis done by TMO.
Mr. Tevanian has sold a large amount of Apple stock in the last year. As first reported by TMO last November, Mr. Tevanian sold 200,000 shares reaping a $3.5 million profit.
Nancy Heinen, Apple's Senior Vice President and General Counsel, sold 394,000 shares of employee stock options on Jan. 20, and made $13,378,666.00.
Apple's Chief Software Technology Officer, Avadis Tevanian, Jr., sold 300,000 shares of Apple stock last week, for a $16.3 million profit, SEC records indicate.
Jon Rubinstein, Apple's Senior Vice President of Hardware Engineering, sold a total of 250,000 shares of employee stock options, making a profit of $13,244,775.00.
Apple's Executive Vice President Worldwide Sales and Operations, Tim Cook, sold a total of 228,000 shares of employee stock options on Jan. 20, making a total profit of $12,152,817.40.
Sina Tamaddon, Apple's Senior Vice President of Applications, sold 350,000 shares of employee stock options , making a profit of $10,619,224.00.
The Apple executives sold their stock options for between $69.30 and $71.40 a share. The majority of transactions were bought at either $16.81 or $47.43 a share.
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
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