http://www.macnn.com/articles/12/05/02/wipes.out.95.percent.of.personal.aapl.holdings/
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.
Grizzled Veteran
Joined: Oct 1999
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...