Apple execs excercise options to earn millions
Tuesday, October 25, 2005 @ 11:35am
Apple's execs are cashing in on the recent strength in Apple's stock. Apple's CFO Peter Oppenheimer exercised 750,000 options last week, grossing $32 million, according to TheStreet.com which reports in recent months, at least four other senior company executives have cashed in 100,000 or more options, including "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 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, Serlat exercised 140,000 options over the past three months for about $5.1 million, and Heinen cashed in 125,000 options for $4.7 million.
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