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AAPL Stock: 128.7 ( -0.25 )

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Two more Apple directors sell stock options, pocket $19 million

updated 12:18 am EDT, Thu August 1, 2013

Board members Drexler, Campbell follow in Oppenheimer's footsteps

Less than a week after Apple CFO Peter Oppenheimer sold some of his AAPL holdings to the tune of $16.4 million, two other members of Apple's board have let go of smaller amounts of stock, grossing a total of $19 million before taxes in recent days. Long-standing board member and J. Crew CEO Millard Drexler sold 32,562 shares in the company (gaining $14.6 million) while Intuit Chairman William Campbell sold 10,000 shares for a gross gain of $4.4 million. Both men sold shares awarded to them from their director stock options.

Drexler, having waited a bit longer to sell his stock, fetched a better price -- selling at an average of $448 to $449 per share. Campbell's average sell price was between $440 and $441. The exact price was determined by the timing of the sale, and both men sold their shares in small batches. In Campbell's case, the stock was bought at $10.91 per share, and he retains some 1,961 shares of stock in the company. Drexler's shares were purchased at prices varying between $113 and $202 per share, and he retains some 971 shares in the company.





by MacNN Staff

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