Apple COO Tim Cook Sells $41M in Stock
Apple COO Tim Cook Sells $41M in Stock
by , 4:55 PM EDT, March 27th, 2008
Apple Chief Operating Officer (COO) Tim Cook sold 300,000 shares of Apple stock on Monday at $135.86, according to MarketWatch on Thursday. The total is nearly US$41M. In addition, Mr. Peter Openheimer, Apple's Chief Financial Officer (CFO), sold US$19M worth of stock.
The documents were filed with the Securities and Exchange Commission (SEC) on Wednesday. Mr. Cook's shares were converted from restricted stock which were vested and due to expire.
Mr. Oppenheimer's sale of US$19M was reported to be part of a prearranged stock trading plan.
In the past, Apple's officers of the corporation have been shrewd as opposed to careless about their stock sales, yet have always stayed within SEC rules. On the other hand, it's hard to say anything definitive about what these sales say, if anything, about Apple's near term future. Apple seems less affected by the economic slowdown, so far, and is expected to report a record number of Macs sold this quarter. The only tea leaves to read here may be just the soggy ones leftover in the kitchen sink.
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