Apple CFO Fred Anderson Files To Sell 100,000 Shares Of Apple Stock
Apple CFO Fred Anderson Files To Sell 100,000 Shares Of Apple Stock
by , 3:10 PM EDT, April 25th, 2002
Fred Anderson, the Chief Financial Officer and Executive Vice President of Apple, has filed to sell 100,000 shares of his Apple holdings. According to a Dow Jones report, Mr. Anderson planned on selling the stock on Tuesday.
Executives of publicly held corporations are required to disclose their stock transactions in SEC filings, including the exercising of stock options, as well as the buying and selling of company stock. There has been little insider action in Apple's stock in some time. The last transaction occurred in October of 2001 (Board member Gareth Chang sold 60,000 shares at that time), and little more than a hand full of insider transactions in all of 2001. This filing was released today, according to the Dow Jones report:
Apple Computer Chief Financial Officer and Executive Vice President Fred D. Anderson filed to sell 100,000 shares of the company's common stock, according to a Form 144 released Thursday by the Securities and Exchange Commission.
Anderson listed April 23 as the approximate sale date for the shares, which he valued at $2.5 million.
The filing listed Charles Schwab & Co . Inc. as the broker for the sales. A Form 144 indicates an intention to sell restricted stock, but it isn't a commitment to do so.
As of press time, Apple's stock is trading at 23.94, a gain of 0.174 (+0.73%), on light volume. You can read the original Dow Jones report at Yahoo!'s Web site.
The Mac Observer Spin:
Insider selling is often seen as a sign of a lack of confidence in a company by its executives, but one sell does not a trend make. There is little reason to believe that Mr. Anderson has any such lack of confidence in Apple. In fact, Mr. Anderson has no recorded buying or selling of Apple stock in the last two years. Compared to most other technology companies, Apple's executives have shown remarkable restraint by holding on to their shares during the last two years. We hope Mr. Anderson enjoys his new boat, or house, or whatever it is he is planning on doing with his US$2.5 million. He has helped Apple earn a lot of money during the last several years, and has greatly contributed to the financial health of the company.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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