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.
Fresh-Faced Recruit
Joined: Jul 2008
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.