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AAPL Stock: 102.13 ( + 1.24 )

Printed from http://www.macnn.com

Apple iOS head Scott Forstall sells $38.7 million in shares

updated 11:16 am EDT, Wed May 2, 2012

Wipes out 95 percent of personal AAPL holdings

The senior VP of iOS software at Apple, Scott Forstall, sold 95 percent of his available company stocks last Friday, an SEC filing reveals. In total 65,151 shares were sold off, valued at $38.7 million. The remaining 2,988 shares were worth $1.8 million at the close of Friday trading.

The liquidated stocks were the leftovers of a retention incentive from 2008, which amounted to 120,000 shares. A small amount of shares were disposed of in March in order to pay taxes. Forstall technically has another 250,000 shares in his possession, but 100,000 of these will only vest in 2014, while another 150,000 will vest in 2013 and 2016.




by MacNN Staff

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  1. Feathers

    Joined: Dec 1969

    -12

    Toys out of pram?

    I guess it's not so much throwing his toys out of the pram but throwing his shares instead. This could be a shot across the bow of Tim Cook. Why sell now? Does he believe that the shares have peaked? Not exactly a vote of confidence from such a senior figure. This looks like an action with an endgame that could have short-term negative consequences for Cupertino. Forstall is famous for his sharp elbows and the ruthless pursuit of what he wants. My five cents... get rid of Forstall NOW before he can harm the company or gain insight into future plans that he might take with him when he leaves...

    Comment buried. Show
  1. facebook_Sam

    Via Facebook

    Joined: May 2012

    -12

    comment title

    He's obviously doing it to salvage some goods from of a sinking ship.

  1. testudo

    Joined: Dec 1969

    +2

    Re: toys out of a pram

    It is stupid to just keep all your eggs in one basket.

    Plus, did it occur to you he needs money?

  1. beb

    Joined: Dec 1969

    +3

    What do we know?

    He could be wanting to build a house or something. Sometimes the situation isn't what it might appear to be.

  1. Mebsat

    Joined: Dec 1969

    +3

    250,000 unvested shares

    are worth $148M at the same price. Let's say he has the upside covered. He probably does need to pay some taxes, build a house, etc. Also, a lot of tax changes possible in 2013. Nothing here to indicate he is leaving.

  1. DaJoNel

    Joined: Dec 1969

    +2

    You're right

    He's probably leaving the sinking ship, that is Apple, considering it's not like they are the highest-profiting technology company EVER.

  1. glideslope

    Joined: Dec 1969

    0

    Going?

    When was the last time Scott appeared on stage? I think he is sick of the Eddy. There was a reason Eddie Cue was not a Senior VP under Steve. Eddy is a Tim Guy. Scott has a big ego, temper, and is a little Steve.

    Would not be surprised to some day see him leave and start up his own Co. Should be interesting to see what comes NEXT.

  1. Strap

    Joined: Dec 1969

    0

    Shares?

    Probably filling the tank on his Prius.

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