updated 06:45 am EDT, Mon June 28, 2004
Ex-Apple CFO nets $6M
Ex-Apple CFO Fred Anderson in early June from exercising options and selling his Apple shares for a total of nearly $18 million in stock/option earning since April, according to the Mercury News: "Anderson, who joined the company in 1996, retired as Apple's chief financial officer June 1, but just days later joined the company's board. From June 2 to June 6, Anderson exercised options to buy 500,000 Apple shares for $17.31 each, according to Thomson Financial. He sold those shares over the same days for prices ranging from $29 to $29.95 each, for a gain of $5.9 million. Anderson's sales were also part of an automatic-sales plan established under rule 10b5-1 of the Securities and Exchange Commission. The program allows executives to sell shares in predetermined amounts over a specified period of time."