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

Posted:
in General Discussion edited January 2014
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.

Comments

  • Reply 1 of 18
    I would LOVE to buy $500 value stock for $7. What bullshit.
  • Reply 2 of 18
    That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!
  • Reply 3 of 18

    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...

  • Reply 4 of 18
    archarch Posts: 66member

    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.

  • Reply 5 of 18
    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.
  • Reply 6 of 18
    rayzrayz Posts: 814member
    pharding wrote: »
    That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!


    Oh good grief ...

    mikeb85 wrote: »
    Seriously, you people need to learn how markets work...

    Yes, a little background reading would go a long way.
  • Reply 7 of 18


    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.

  • Reply 8 of 18
    zoetmbzoetmb Posts: 2,584member
    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.
  • Reply 9 of 18


    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.

  • Reply 10 of 18

    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.

  • Reply 11 of 18
    kdarlingkdarling Posts: 1,640member

    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.)

  • Reply 12 of 18
    mikeb85mikeb85 Posts: 506member

    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...

  • Reply 13 of 18
    kent909kent909 Posts: 730member
    .
  • Reply 14 of 18
    kent909kent909 Posts: 730member
    Maybe we should all feel bad for the 1% now. I am guessing Al had to exercise these options now, so that he can sell next week to make enough money to pay his new higher taxes this year. Those socialists are such a cruel bunch.
  • Reply 15 of 18


    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.

  • Reply 16 of 18
    flaneurflaneur Posts: 4,526member
    kingchael wrote: »
    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.
  • Reply 17 of 18
    quinneyquinney Posts: 2,528member
    kingchael wrote: »
    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.
  • Reply 18 of 18
    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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