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AAPL Stock: 433.26 ( -1.32 )

MacNN News

http://www.macnn.com/articles/02/05/08/apple.vp/

Apple VP Cook registers to sell $7.4M shares

updated 10:50 pm EDT, Wed May 8, 2002

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Apple Executive Vice President Timothy Cook has registered to sell 310,000 shares of common Apple stock, according to filings released Wednesday by the SEC. Cook listed April 25 and April 29 as the approximate dates of the transactions, which he valued at $7.4 million, according to Dow Jones. (We noted previous filings by VP Nancy Heinen and CFO Fred Anderson.)

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05/09, 12:16am | report spam | close Reply |
Something is cooking...

This is waaaay too fishy. Something is going on. Now whether it is good or bad, time will only tell.

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05/09, 12:25am | report spam | close Reply |
I agree

Something is up...and i'm scared it isn't good. I wonder if Steve is about to bail again

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05/09, 12:37am | report spam | close Reply |
Stop posting this stuff!

You're making these goofball conspiracy theory people nervous.

roehlstation
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05/09, 12:51am | report spam | close Reply |
Perhaps

These people just need some cash. It isn't unheard of to sell stock how many total shares do they own? This may not be all of it that they are selling.

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05/09, 01:06am | report spam | close Reply |
hmmm

Whoever says this isn't fishy... why are all these execs selling their stock at the same time?

ecasadei
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05/09, 02:01am | report spam | close Reply |
Don't be so quick...

...to shrug this off. Insiders selling shares is something that is often taken by analysts as a sign to take a closer look at the company. Whether you like it or not, an insider has information that isn't available to the public. When Fred Anderson sold his shares I didn't think it was a big deal. But this is now the third executive to sell a significant number of shares in the last two weeks. Of course, this doesn't necessarily mean they think Apple is going down the tubes - just that they don't think the stock will rise much in the short term.

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05/09, 02:09am | report spam | close Reply |
It's the Pentium and Del

It's the new P4. Steve knows that Moto can't produce enough power into current processors and Apple can't make a new Pro system without Moto's help.

The new P4 flat out smokes the G4 with it's high clock speed and bus and rd-ram. And it's cheaper than the current high end systems, and comes with more software.

These guys know that Apple will go down without pro sales so they're bailing while they still can.

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05/09, 02:35am | report spam | close Reply |
p***!

SELL! FREAKIN SELL STOCK WILL TUMBLE TOMORROW!
This is bad news! Looks like Dell, Intel, and Microsoft will be taking Apple's place in the innovation field.

I knew I should have listened to my friends and stuck with PC.

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05/09, 03:25am | report spam | close Reply |
up 1.9 dollars

yeah, everybody sell. apple's only up 8.5 percent today.
there's no new products coming apart from rack mounted servers, g5s & jaguar.
flat panel imacs and ipods are piled high in stores.... noone's buying 'em.
get out now before the bubble bursts... run... go.... now.

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05/09, 04:25am | report spam | close Reply |
Maybe...

Maybe these execs got nailed by the IRS. So now they have to sell shares to pay their taxes. ;)

maniacal
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05/09, 05:23am | report spam | close Reply |
hmm

310,000 * $25/share=$7,750,000. 1 million, 7 million. whats the difference. Most of them were given options at $15.00/share. 310,000 * $15/share =$4,650,000
A profit of $3,100,000. Thats enough to retire on. Who knows maybe their mad at steve and want to make it look like apples gonna tank. Or its a ploy to make it look like apples not gonna be so hot, stocks drop, they buy them back, apple releases 2ghz or 3ghz G5's with either DDR or Rambus. 3 million profit, reinvest when it goes down to $15/share. stocks soar to $100 in the next 2 years. ouch. thats a lot of money. $4,650,000,000. I would do it.

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05/09, 05:23am | report spam | close Reply |
Nah

Apple's dead in the Pro market. This is expected... They finally got their consumer stuff straight and now they fark over pro users.

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05/09, 05:56am | report spam | close Reply |
Maybe...

...they're all friends, had a chat about diversifying portfolios, and decided it would be a good idea to sell some shares and reinvest them while the econonmy was still poking around its lows.

At first I thought a buyout may be a reason, but buyouts usually favor the company being acquired (higher stock price), so that couldn't be it. If Apple was doing the acquiring, like say investing a bunch of cash in Palm or something, then that would definitely affect their stock price.

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05/09, 06:08am | report spam | close Reply |
Or maybe...

...Apple will be acquiring a big fish that isn't doing so well, like SGI. So these guys are selling off their stock, to make some duckets before the stock price drops a bit.

chas_m
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05/09, 06:17am | report spam | close Reply |
Almost right ...

Oh please people ... as bad as the pro stock analysts are, you guys are worse! I wouldn't let ANY of you nervous nellies near MY portfolio.

There are three reasons why these people are, seemingly en masse, selling their stock:

1. Tax purposes. What major tax deadline just *passed by*? So it's a new season now.

2. Leaving the company. Perhaps some of them are leaving the company to pursue other interests and can't have a financial stake in the company.

3. They do not expect the stock to rise in value before their options run out. This is by far the most likely explanation.

It has *nothing* to do with Apple's financial health, or future plans. I've got it on good authority that plans for this year are going great, with a lot more to come. Steve is going to have a LOT of accomplishments to talk about by MWSF 03.

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05/09, 06:44am | report spam | close Reply |
like what?

Alright chas_m, spill the beans! What do you know?
;)

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05/09, 07:33am | report spam | close Reply |
Something bad

Is brewing. My guess is that Apple has nothing going on for the Powermacs. The G4 is stalled at 1 GHz, and meanwhile Intel is on track to hit 3 GHz by the end of this year. Things are looking dark for Apple and if they don't jack up Mac performance soon then it doesn't matter how bad-a** OS X is.

numero
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05/09, 08:03am | report spam | close Reply |
Insider Rules

There are different regulations put on insiders than there are for us mere mortals. They can't trade Apple stock on just any day of the week like we can. I don't know all of the rules, but they go something like this: they can't trade just before financials are announced and they can't trade before a major announcement.

That would take them out of the market from mid December through MacWorld. Then financials are announced either at the show or shortly after. Then they have a 2 month trading opportunity until mid/late March when there is a blackout period again for the close of the quarter. They probably had some time in April to trade, but then in early May the eMac was announced (product rollout = blackout period) and now a rackmount server is being rolled out in a week.

Well, as you can see, they have a lot of restrictions put on them because of what they know about the company.

The reasons they are selling right now?
#1 - They can!
#2 - #999 Any number of personal reasons. Maybe they need money to pay their taxes from last year. Maybe they want to buy a house or some other large purchase. Maybe they will be getting new options soon and they want to diversify their portfolio (have we not learned anything from Enron?).

The list could go on. The point is, because of the limited number of opportunities insiders have during the year, it is not uncommon to see a few trades come by all at once. Look it up historical insider trades on Yahoo. It has happened before, and yet Apple is still around.

Welborn
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05/09, 08:34am | report spam | close Reply |
Insiders

Listen to numero on this one guys -- go take a look at insider trading info on ANY company on Yahoo. They come in bursts because that's when people have the opportunity to sell.

BY LAW, they cannot sell when they have 'inside' knowledge that lets them know that it's beneficial to them to sell then rather than at some random time in the future.

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synergy
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05/09, 08:43am | report spam | close Reply |
I think

I think this is profit taking. Let them. They earned it. Short term I think Apple is a hold. Probably won't see major movement in the stock until next year. This in part due to economic conditions which still will get worse before they get better IMO.

People are spending and tax refunds they got now. They may have gotten back more than normal due to larger than normal stock selling losses. Once the tax refund money runs dry (into summer) then things will get really really painful.

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05/09, 11:50am | report spam | close Reply |
insider trading

It's a totally common occurrence, as numero pointed out. These shares are probably a fraction of what they own in sum. I used to work for a successful startup that went public, and the high-ups (who had an absurd amount of stock) were actually encouraged (privately) to sell lots occasionally. It gets them income- which they EARNED- and prevents them from dumping huge lots of stock later on.

Don't sweat this. It's standard operating procedure. These people don't work for charity.

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woowooo
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05/09, 01:55pm | report spam | close Reply |
Bah,

Chicken littles.

How do we know that the shares are not "issue stock options" that can be cashed in now?

What if the execs are starting up other businesses? Here is some capital..

Besides, they had to file with SEC prior to selling so the price of the market is not predictable.

I doubt Steve is leaving. He has done very well for Apple and for Pixar.

Therefore, I would start buying as 310,000 shares are back on the block ;)

Think I'll buy me another 1000 or so...

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slickjohn
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05/09, 07:02pm | report spam | close Reply |
Big boys bailing

Trouble in doggyland. Look at apples 10K the signs are there.

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slickjohn
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05/09, 09:16pm | report spam | close Reply |
Poor Execs

Some of the excuses why the poor downtrodden apple execs should sell their stock. apple's market share is putrid, they have lost every market except graphics and design. To pay this much money to failures like Cook is sad.

Side note - Fred Anderson is worth every penny.

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Apple VP Cook registers to sell $7.4M shares

updated 10:50 pm EDT, Wed May 8, 2002

Related Articles

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Something is cooking...

I agree

Stop posting this stuff!

Perhaps

hmmm

Don't be so quick...

It's the Pentium and Del

p***!

up 1.9 dollars

Maybe...

hmm

Nah

Maybe...

Or maybe...

Almost right ...

like what?

Something bad

Insider Rules

Insiders

I think

insider trading

Bah,

Big boys bailing

Poor Execs

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