Apple execs rake in millions from stock options
With shares of Apple trading near an all-time high, at least four senior company executives in recent months have cashed in 100,000 or more of their stock options to realize millions of dollars' worth of gains.
According to a report on TheStreet.com, Apple CFO Peter Oppenheimer last week exercised 750,000 options options for a profit of $32 million.
Oppenheimer's sales came as part of a series of transactions made beginning last Monday, the report says. "They represented the first time Oppenheimer, who has been with the company since 1996, had exercised a significant number of options. The options he exercised were not in danger of expiring in the near future."
The transactions have reportedly left Oppenheimer with a mere 14,143 share of company stock.
An Apple spokesman would not discuss Oppenheimer's reasons for selling, but said: "It's great to see our management team get rewarded for their incredibly hard work by selling some of their stock."
Other Apple executives who have exercised options recently include Avadis Tevanian Jr., the company's chief software technology officer; Ronald Johnson, senior vice president in charge of Apple's retail operations; Bertrand Serlat, senior vice president of software engineering; and Nancy Heinen, the company's general counsel.
The TheStreet.com report says that Tevanian has sold the most stock and seen the biggest gains, cashing in 900,000 options since mid-August for about $36.5 million, while Johnson cashed in 750,000 shares in August for a $22.6 million profit. Additionally, Serlat exercised 140,000 options over the past three months for about $5.1 million in gains while Heinen cashed in 125,000 options for a cool $4.7 million.
According to a report on TheStreet.com, Apple CFO Peter Oppenheimer last week exercised 750,000 options options for a profit of $32 million.
Oppenheimer's sales came as part of a series of transactions made beginning last Monday, the report says. "They represented the first time Oppenheimer, who has been with the company since 1996, had exercised a significant number of options. The options he exercised were not in danger of expiring in the near future."
The transactions have reportedly left Oppenheimer with a mere 14,143 share of company stock.
An Apple spokesman would not discuss Oppenheimer's reasons for selling, but said: "It's great to see our management team get rewarded for their incredibly hard work by selling some of their stock."
Other Apple executives who have exercised options recently include Avadis Tevanian Jr., the company's chief software technology officer; Ronald Johnson, senior vice president in charge of Apple's retail operations; Bertrand Serlat, senior vice president of software engineering; and Nancy Heinen, the company's general counsel.
The TheStreet.com report says that Tevanian has sold the most stock and seen the biggest gains, cashing in 900,000 options since mid-August for about $36.5 million, while Johnson cashed in 750,000 shares in August for a $22.6 million profit. Additionally, Serlat exercised 140,000 options over the past three months for about $5.1 million in gains while Heinen cashed in 125,000 options for a cool $4.7 million.
Comments
Originally posted by i-am-an-elf
ya they do, but why is it that whenever appleinsider posts an article about apples stock going up in the future or currently on the rise, it falls. it's down $1.00 now i'vr seen this so many times too
My idea: Many many people read this.
Originally posted by iShawn
My idea: Many many people read this.
...that would make us... FAMOUS. I am star stricken already
Now that Stock options are included in the accounting costs for the company, companies are greatly reducing this type of compensation.
And that's a good thing. These people are well compensated for what they do, but does Peter Oppenheimer really deserve $42 million on top of his salary for his efforts for Apple computer?
Again, this type of activity is falling away. Which is good, as people jump onboard to reap some stock gains, only to vacate when the going gets more tough.
Originally posted by soosy
Are they actually using rakes on a big ole pile o' money?
Naw. They just pile it on the table like the World Poker Tour.
1) When in Rome, do as the Romans do.
2) Buy low, sell high.
If you own Apple stock....
Originally posted by SpamSandwich
Get ready to short AAPL... just a guess.
If they are selling because of a problem known only to them, wouldn't that be insider trading?
Originally posted by aplnub
I can't even comprehend that kind of money. Anyone have any idea how people get those type of jobs?
heh. the irony is they probably got there, and are doing the job because, well, not for the money, not for the lamborgini, and not for the latest powermac g5...