updated 12:30 pm EST, Wed February 9, 2005
Execs profit from AAPL
As Apple's stock climbs to record levels, company executives are cashing in on stock options and making significant profits. Phil Schiller, Senior Vice President of Worldwide Product Marketing, has made around $2.3 million, according to estimates. Last week, Schiller sold 75,000 shares, which he purchased at $47 per share. Schiller sold his shares at approximately $78 on February 4th. Last fall, Schiller made over $8 million when he exercised 286,000 employee stock options. Jon Rubinstein, Apple's Senior Vice President of Hardware Engineering, sold approximately 9500 shares of stock on January 27th, worth $688,000. Last month Rubinstein sold 250,000 shares of employee stock options, for a profit of over $13 million. Apple stock yesterday hit a new all-time high of over $80.