Where is the outrage ? $10,600,000 in options for 8 months work
for (Mr Cook as an example) an executive who also rec'd $500,000 to join AAPL (July ?) for a executive salary , then dumps his shares .
Maybe I'm missing it but how can an investment analyst recommend buying this stock knowing its top executives are habitual sellers ?
Plus what does this do to employee/management morale when AAPL's leaders sell out at $36/shr , which is their current option reward level ?
This stock should be selling in excess of $50/shr considering it had reached $47.30 this Jan. Additionally an appreciating stock attracts investors who are likely to become customers .
Management seems self-centered . The note's buy-back will probably not be that but dilution through conversion at a share price coincidently suppported by (delayed) 3Q corporate good news . Look for more executive share dumping .
Awarding executive options without a vesting schedule invites greed , poisons analyst's minds and taints any company share buy back .
The only comfort is that AAPL's Board members have not sold their shares and they are on record , with Mr J , to preserve shareholder value .
If so, the Board should step up and prevent further $10,600,000 windfalls by amending the existing option plans with a suitable vesting schedule .
Jim K. |
