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Al Gore buys 59K shares of AAPL stock valued at over $29.6M

post #1 of 17
Thread Starter 
It was revealed in an U.S. Securities and Exchange Commission filing on Thursday that Apple board member Al Gore purchased 59,000 shares of AAPL stock worth over $29.6 million based on the stock's closing price today.

Gore


The SEC filing notes that Gore exercised the director stock option on Tuesday to acquire 59,000 shares at a price of $7.475 per share, meaning the purchase cost him roughly $441,000, reports The Next Web.

With AAPL closing Thursday $502.68 per share, Gore's 59,000 shares are currently worth some $29,658,120. According to the filing, Gore still has 61,574 non-derivative shares left after the transaction.

Gore was appointed to Apple's board in 2003.
post #2 of 17
I would LOVE to buy $500 value stock for $7. What bullshit.
post #3 of 17
That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!
post #4 of 17
Quote:
Originally Posted by pharding View Post

That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!

 

Well odds are they were long-term options contracts made when Apple was still under $7 per share.  In 2003 Apple's shares stayed under $6...  If you had bought Apple shares or options in 2003 you could also get them for that price.

 

Seriously, you people need to learn how markets work...

post #5 of 17
Quote:
Originally Posted by djkikrome View Post

I would LOVE to buy $500 value stock for $7. What bullshit.


When he joined in 2003, he was given stock options with a price tag of $7. The stock was around $6-7 then.

post #6 of 17
Exactly, when u buy stocks, it keeps the same price tag for you forever. If i bought stocks in 2003 at $7 a share, and i want to buy it today, it will still be the same price tag as a share owner.
post #7 of 17
Quote:
Originally Posted by pharding View Post

That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!


Oh good grief ...

Quote:
Originally Posted by Mikeb85 View Post

Seriously, you people need to learn how markets work...

Yes, a little background reading would go a long way.
post #8 of 17

If you're on a company board and were given options you can exercise later and the stock goes up during the time you're serving on the board, yes, that's considered compensation based on the performance of the company you were hired to help govern.

post #9 of 17
Wow. I had forgotten that Apple shares were that low as recently as 10 years ago. And even at the currently depressed $500 a share price that's a 7143% return. I think my cheapest shares that I still own were priced at around $175.

Glad to see that some sense has re-enered in the analyst fantasyland and some firms are once again predicting an $1100 share price, although I see the stock is down another 4 points at the moment. Down, even though Apple is expected to announce next week that they sold 50 million iPhones in the previous quarter. For many companies, even if they only sold for $3 each, that would be great news.
post #10 of 17
Originally Posted by maclancer View Post
Exactly, when u buy stocks, it keeps the same price tag for you forever. If i bought stocks in 2003 at $7 a share, and i want to buy it today, it will still be the same price tag as a share owner.

 

Wait, what? Really? That sounds wrong.

Originally Posted by Marvin

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Originally Posted by Marvin

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post #11 of 17
Quote:
Originally Posted by djkikrome View Post

I would LOVE to buy $500 value stock for $7. What bullshit.


You could have, roughly a decade or so ago.

post #12 of 17
Quote:
Originally Posted by Magic_Al View Post

If you're on a company board and were given options you can exercise later and the stock goes up during the time you're serving on the board, yes, that's considered compensation based on the performance of the company you were hired to help govern.

 

Also works the same way for regular employees.   Startups, especially, like to use stock options as compensation, instead of high pay upfront.

 

Sometimes it's a great deal. sometimes not.   I know people in the biomedical field who became rich from stock options.  

 

I've also seen stock options that were actually useless later on, because the stock price never even rose to the options price.  (E.g. stock is at $3.   Employees given options for buying at $3.40, which could make you rich if the stock went way past that, however, the stock never gets above $3.25.   The result is you never get to exercise the options, and you lost your bet on choosing options vs. pay.)

post #13 of 17
Quote:
Originally Posted by maclancer View Post

Exactly, when u buy stocks, it keeps the same price tag for you forever. If i bought stocks in 2003 at $7 a share, and i want to buy it today, it will still be the same price tag as a share owner.

Um, no...

post #14 of 17

If he exercised now that means he is likely to sell some of his shares soon before piss poor earning or the sell the news after decent earning pop.

 

Another piece of bad news for shareholders.  Wave of bad news after bad news every day.  No PR to fight the BS media.  No divvy increase.  No stock split. No action whatsoever to protect shareholder.  And now, no innovation.  At least Jobs had the latter.  All this happening under the leadership of Cook and the rest of the clowns.  They are the ones responsible for driving and burning AAPL into the ground.  The media hordes are just adding gas to the fire.

 

The only thing AAPL seems to be good at now is the hedge funds and insiders coordinating together to make sure the retailers are holding the bag, not just the POS AAPL stock but their POS products also.

post #15 of 17
Quote:
Originally Posted by KingChael View Post

If he exercised now that means he is likely to sell some of his shares soon before piss poor earning or the sell the news after decent earning pop.

Another piece of bad news for shareholders.  Wave of bad news after bad news every day.  No PR to fight the BS media.  No divvy increase.  No stock split. No action whatsoever to protect shareholder.  And now, no innovation.  At least Jobs had the latter.  All this happening under the leadership of Cook and the rest of the clowns.  They are the ones responsible for driving and burning AAPL into the ground.  The media hordes are just adding gas to the fire.

The only thing AAPL seems to be good at now is the hedge funds and insiders coordinating together to make sure the retailers are holding the bag, not just the POS AAPL stock but their POS products also.

I agree that Apple has a bit of a problem, but of course it is people like you that are creating the problem.

Edit: deleted the rest of the reply. He isn't for real. Posted the same thing in the iPad mini thread.
Edited by Flaneur - 1/19/13 at 8:19am
post #16 of 17
Quote:
Originally Posted by KingChael View Post

If he exercised now that means he is likely to sell some of his shares soon before piss poor earning or the sell the news after decent earning pop.

Another piece of bad news for shareholders.  Wave of bad news after bad news every day.  No PR to fight the BS media.  No divvy increase.  No stock split. No action whatsoever to protect shareholder.  And now, no innovation.  At least Jobs had the latter.  All this happening under the leadership of Cook and the rest of the clowns.  They are the ones responsible for driving and burning AAPL into the ground.  The media hordes are just adding gas to the fire.

The only thing AAPL seems to be good at now is the hedge funds and insiders coordinating together to make sure the retailers are holding the bag, not just the POS AAPL stock but their POS products also.

Copying and pasting is fun:

Al Gore paid about $441,000 for 59,000 shares. Those shares each pay $10.60 per year in dividends.
That means the shares Al bought will pay $625,000 in the next year, for an effective rate of 141.8% on his investment. Future years will likely pay the same or higher dividends.

The options were paying him nothing. The fact that he exercised the options most likely means he wanted the dividend income.
post #17 of 17
yes, that's the crazy world of stocks, Apple is selling like crazy, and the stock prize is falling down like a rock, yep, shareholders can also destroy a company, would not be the first time.
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