Apple Executives Sell Off 1 Million Shares

Apple's senior staff sold off a million shares of stock yesterday after they became fully vested on Wednesday, according to Fortune.

More than a million restricted shares of Apple (AAPL) stock that seven of them were granted on Dec. 14, 2005 became fully vested Wednesday. The next day, with Apple opening at an all-time record high, four of them sold off all those shares pursuant, as the SEC Form 4 has it, to a Rule 10b5-1 trading plan.

COO Tim Cook sold 300,000 Apple shares at $226.9 to $230.7, for a total of $68.8 million before paying $32 million in taxes. Cook was granted those shares when Apple was selling for $72.01.


CFO Peter Oppenheimer sold 200,000 shares making $45.98 million. SVP for Retail, Ron Johnson sold 200,000 shares for a profit of $45.95 million. SVP for Marketing Phil Schiller sold 150,000 shares to clear $34.47 million.

Fortune notes that three others sold some of their shares to meet requirements and held onto the rest. Serlet Bertrand (granted 150,000 restricted shares in 2005), Scott Forstall (50,000) and Robert Mansfield (50,000).

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