Several Apple execs seize on record stock prices
updated 11:35 am EDT, Tue October 26, 2010
Mansfield reaps over $10.8 million
Several Apple executives have taken advantage of record stock prices through large share selloffs, according to SEC documents. The greatest amount of cash was brought in by the company's senior VP of hardware engineering, Bob Mansfield, who sold 40,000 shares on October 21st with a strike price of $36.54 for $308 per share, granting him $10.844 million. The executive is already relatively wealthy without bonuses or stock options, earning a salary of $600,396 a year.
Other executives recorded as having made selloffs include controller Betsy Rafael, senior operations VP Jeffrey Williams, and senior software engineering VP Bertrand Serlet. Although Serlet sold just 5,000 shares on October 18th, he is noted to have come the closest to exploiting Apple's all-time share high. His shares were worth $318.50 at the time of the transaction, no more than 50 cents off their peak.
Fresh-Faced Recruit
Joined: Apr 2009
smart tax strategy
Whoever depends on Congress and Obama to extend all of the Bush tax cuts is gambling with their (invested) money. I do not see this as an insider taking profits because of Apple peaking, I see this as a move to avoid much nigher tax liability in 2011 and beyond.