updated 01:05 pm EDT, Tue August 9, 2005
OS X developer cashes in
Bertrand Serlet, the Frenchman who played a critical role in creating Mac OS X, is as Apple's stock continues to rise. Exercising his stock options last year, last July alone Serlet made $3.2 million in net gains from insider stock transactions, according to Thomas Financial. Serlet totaled $7.6 million in the past year from sales of Apple shares obtained through stock options. Apple's stock more than doubled in the past year from $15 per share at the beginning of late August to the $38-$43 range when Serlet began exercising his options in mid-July, according to The Mercury News. Utilizing his compensation plan, Serlet was able to purchase stock options for $9.25 per share and sell them at market prices for quadruple his cost. Serlet told CNET in September that he is a proponent of open-source software and maintains that Apple's software security benefits from a great number of eyes examining its source code.