toggle

AAPL Stock: 111.78 ( -0.87 )

Printed from http://www.macnn.com

CFO Peter Oppenheimer sells off $16.4M in Apple stock

updated 04:24 pm EDT, Fri July 26, 2013

Sale follows post-earnings stock jump

Apple CFO Peter Oppenheimer sold 37,172 shares of Apple stock on Wednesday, a new Securities and Exchange Commission filing shows. At an average share price of $440.31, the trade was worth approximately $16.4 million. The shares involved date back to November 2011, when Oppenheimer was granted them as part of a bonus. The sale followed a day after Apple's Q3 results; during that timespan, the company's stock shot up $20 in value.

The executive still owns 4,834 shares, currently valued at $2.1 million. According to internal rules established earlier this year, Apple executives other than CEO Tim Cook are required to hold stock worth three times their base salary. Since Oppenheimer receives an $800,000 salary, he should in theory need $2.4 million in shares. The company may, however, be flexible on the exact amount given shifts in the stock market.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. pottymouth

    Forum Regular

    Joined: 11-19-03

    Why?

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lackin ...

toggle

Most Commented