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AAPL Stock: 108 ( + 1.02 )

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More Apple executives cash in on high share prices

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.






by MacNN Staff

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Comments

  1. Bobfozz

    Joined: Dec 1969

    +2

    Jobs just hangs on to his

    If anyone wonders why Jobs doesn't do what the pundits suggest, it is time they've figured out with Steve that's it's not just about the money. He loves doing what he does and he loves (I'm sure) watching these guys "eat crow.")

    Everytime someone criticizes Apple (Jobs) for their/his decisions, their prices, and their "toys," they ALWAYS have the opportunity to just say "No," but they can't and so they complain. Maybe they should look within.

    These other guys work hard, they toe the line, they play the "game," and they keep the secrets... and look how it has paid off! It's seldom about "instant success" and gratification, "lessons" Wall Street wants to TEACH you.

  1. Geoduck

    Joined: Dec 1969

    +1

    If only

    I had bought APPL when it was at $12/share.
    Let's see $12/share x 100 shares = $1200 purchase price.
    800 shares (I think there's been 4, 2 for 1 splits since then) x $260/share = $208,000

    Damn.

  1. testudo

    Joined: Dec 1969

    +1

    Re: If only

    And here I sit on my lousy 575 shares...

  1. testudo

    Joined: Dec 1969

    -1

    Re: Jobs

    If anyone wonders why Jobs doesn't do what the pundits suggest, it is time they've figured out with Steve that's it's not just about the money. He loves doing what he does and he loves (I'm sure) watching these guys "eat crow.")

    Except you make the invalid assumption that:

    a) Jobs makes decisions
    b) Apple stock rises
    c) Jobs decisions must be correct

    There is no proof (without actually performing it) that if Apple, say, offered more choice on the computer line, or removed AppStore exclusivity, or other suggestions, that Apple's sales would plunge. Or the Mac sales would plummet from customer confusion.

    Esp. when dealing with Wall Street types, for they aren't telling you that you can succeed, but that they can help you succeed even more! Well, until they buy out your company and strip it down for parts for that is what would make them the most money. But until that point.....

  1. ilovestevejobs

    Joined: Dec 1969

    -3

    Jobs is dying again!

    I can only dream :)

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