updated 05:40 pm EDT, Fri September 1, 2006
Schmidt declines options
Apple said in a filing on Friday that Google CEO Eric Schmidt has declined stock options offered to new directors and will instead buy shares on the open market. The company said that Schmidt turned down the automatic stock option grant to purchase 30,000 shares, to which new directors are entitled to under a company stock option plan. Instead, Schmidt intends to purchase 10,000 shares of Apple stock on the open market.