updated 10:30 am EDT, Wed April 28, 2010
Trio rakes in over $16.5 million
Three key Apple executives are reported to have sold large amounts of company stock over the weekend, taking advantage of record share prices. In total the group amassed over $16.5 million; the greatest profits, however, went to Scott Forstall, Apple's senior VP of iPhone software. As a result of two sell-offs on Friday, according to Form 4s filed with the SEC, the executive reaped over $12 million.
Mark Papermaster, Apple's new senior VP of device hardware engineering, is recorded to have made just under $3.89 million in three trades, including one on Saturday and two on Monday. Comparatively little was made by VP, controller and chief accounting officer Betsy Rafael. Despite selling at the highest share value amongst the trio, $270.88, Rafael took in only $578,594 with a single Friday trade.
The income pales next to March sell-offs. COO Tim Cook generated $68.8 million, while CFO Peter Oppenheimer made $45.98 million. Ron Johnson and Phil Schiller, two other senior VPs, came home with $45.95 million and $34.47 million, respectively.