Apple Exec Tevanian Makes $33 Million Off Stock Sales

| News

Avie Tevanian, Appleis chief software technology officer, has made more than US$33 million since Nov. 1 through two separate stock sales, according to a report at the San Jose Mercury News. Reporter Jack Davis said that the sales happened a month apart.

Mr. Davis cited insider transaction data from Thomson Financial that showed Mr. Tevanian buying 300,000 Apple shares on Nov. 1 at $8.41 each. The executive sold the stock that same day, with each share going for somewhere between $57.14 and $57.74 each.

Mr. Tevanian then acquired 300,000 more shares on Dec. 1, picking them up for between $8.41 and $8.66 each and getting $68.89 to $69.77 apiece when sold that day. Both of the option exercises and sales were part of a plan he set up last January under Securities and Exchange Commission rules. Such plans help avoid conflict of interest claims.

Ronald Johnson, senior vice-president of retail at Apple, has also exercised options during that time frame, selling $4.7 million worth of shares for $13.2 million on Nov. 22. Apple employees have sold shares worth over $322 million so far in 2005, according to Mr. Davis, although CEO Steve Jobs is not among them.

The Mac Observer found the link to this article at MacNN.

Sign Up for the Newsletter

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday.

No Comments

Log-in to comment