AAPL Stock: 118.03 ( -0.85 )

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Key Apple executives sell off stocks

updated 09:55 am EDT, Fri May 2, 2008

Apple exec stock sell-off

Two high-level Apple executives have sold off considerable numbers of stock, according to US regulatory documents. The senior vice president of Worldwide Product Marketing, Phil Schiller, is reported to have sold 136,341 shares of Apple stock, at prices ranging between $170.75 and $173.76; this has returned approximately $23,485,000 to the executive. Meanwhile Bertrand Serlet, the company's senior vice president of Software Engineering, has sold 10,000 shares at roughly the same price, for a return of $1,706,000.

In each case the sales are said to have been arranged under a US regulatory procedure, one which allows company employees to arrange a schedule for stock sales in advance -- and go through with the transaction even if the employee has come into insider information. It is not known what (if any) information Schiller and Serlet may have, although indications continue to point to the imminent announcement of a 3G iPhone.

by MacNN Staff




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