financial/investor

08/09/2005, 1:05pm, EDT

Tuesday, August 9th

Mac OS X developer cashing in with Apple

Bertrand Serlet, the Frenchman who played a critical role in creating Mac OS X, is cashing in 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.


Filed under: Investor

, , 6comments, del.icio.us, slashdot, digg, buzz


6 comments
Reader Reactions (Please use <i></i> for italic text)

subscribe to comments
for this article




Expand All   Global Settings
Why is this news?
0
08/09, 2:21pm, EDT
I'm sure plenty of people exercised their Apple options recently, including other Apple employees past and present.
Fresh-Faced Recruit
Joined Nov 2003
User is offline
Nationalities
0
08/09, 2:22pm, EDT
Bertrand Serlet, the Frenchman who played a critical role in creating Mac OS X [...]

Why in hell does it matter that he's French?

I look forward to being told the nationalities of all personalities involved in future MacNN stories.
Senior User
Joined Jan 1999
User is offline
Open source
0
08/09, 2:59pm, EDT
Well, I'm sure he's happy, though, that OS X on a whole isn't open source, thus driving Apple out of the OS business and thus him out of a job AND making his stock options worthless.
Fresh-Faced Recruit
Joined Aug 2001
User is offline
Umm
0
08/09, 3:23pm, EDT
If the options were granted last year wouldn't that be pre-split options? I mean, the 15 share price MacNN quotes was before the stock ran up, then split, then ran up again. Pre-split pricing would be $100 or more a share.
Senior User
Joined Feb 2001
User is offline
I wonder…
0
08/10, 3:40am, EDT
if he'd like to adopt me as his stepbrother.

Seriously, this guy has done well out of his options - but do we think he's done any better than Avie, who I seem to remember is now seriously wealthy from his options.

Good luck to all of them: I've got a great OS and some fabulous hardware to play with, I don't care how much they get from stock options as it's not really my money.
Fresh-Faced Recruit
Joined Aug 2004
User is offline
Who??
0
08/11, 7:43am, EDT
"Bertrand Serlet, the Frenchman who played a critical role in creating Mac OS X"

I must have a hole in my brain. I've been closely following ALL of Apple's "next-gen OS plans" since before Copeland, through Rhapsody and even PURCHASED the OS X beta (and every release since).

During this whole time, I never remember hearing this chap's name in a discussion. Not once.

Here's the guy's bio from Apple: http://www.apple.com/pr/bios/serlet.html

From more googling on the subject, it does look like he's been around....PARC, NeXT, Apple...but all the press is PR boilerplate.

I don't intend this to sound like criticism of this man or his accomplishments, but for MACNN to make a casure reference to "Bertrand Serlet" as if he was Dr. Suess or Steve Jobs (i.e. famous) seems a little absurd even to me.
Fresh-Faced Recruit
Joined Oct 1999
User is offline
Your Comments

In order to post comments: If you are a registered member, please login with your MacNN Forums username and password otherwise please uncheck the checkbox below.


Registered Member?
macnn forums login:

macnn forums password:

Not a member of the MacNN forums? Register now for free.

RSS Feeds

Have the latest content delivered to your desktop via RSS. Use the links below to get access to a specific blog, news, or reviews feed.



  MacNN -all

  MacNN Reviews

  MacNN Podcasts

  iPodNN

  Electronista

  Left Lane News
Want To Sell Your Laptop? Any Condition - receive Top Cash. Get an instant quote. Free shipping www.CashForLaptops.com
Buy from The Apple Store, iTunes.com, Amazon.com, TechDepot, OfficeDepot, Computers4Sure, or donate.