Appleis Executive Vice President of Worldwide Sales and Operations, Timothy Cook, has filed to sell 310,000 shares of his Apple holdings. Mr. Cookis intent to sell, which Dow Jones reported as having been filed to take place on April 25th and 29th, is the second filing Mr. Cook has made recently. The first was the intent to sell 25,000 shares, filed to take place on April 22nd. Apple CFO Fred Anderson has also filed on two separate occasions (1st incident, 2nd incident) to sell some 125,000 shares of his Apple holdings since April 23rd. Senior Vice President and General Counsel Nancy Heinen filed to sell 125,000 shares for April 30th. All told, there have been five insider sell transactions from among Appleis senior executives since the end of April.
Executives of publicly held companies are required by the SEC to formally file their stock transactions involving stock from the company for whom they work. From the Dow Jones report:
Apple Computer, Inc. (AAPL) Executive Vice President Timothy Cook registered to sell 310,000 shares of common stock, according to filings released Wednesday by the Securities and Exchange Commission.
Cook listed April 25 and April 29 as the approximate dates of the transactions, which he valued at $7.4 million, the filings said.
Morgan Stanley was listed as the broker for the proposed transactions.
Cook registered the shares on an SEC Form 144, which indicates an intention to sell restricted stock, though it isnit a commitment to do so.
You can find the original report at Yahoo!is Web site.
As we have reported in earlier stories, there were two sell transactions filed with the SEC in all of 2001. Gareth Chang sold 60,000 shares optioned for the purpose of selling on October 22nd, 2001. Mitch Mandich, ousted Vice President of Worldwide Sales (retirement announced in October of 2000), optioned and sold more than 245,000 shares in March of 2001.
Also during 2001 was a purchase of 50,000 by Arthur D. Levinson, a director on Appleis Board. You can see all of Appleis insider transactions at Yahoo!is Web site. Join in on the discussion of insider transactions in our Apple Finance Boards.