Advertisment

Apple Computer executives register to sell shares

author-image
CIOL Bureau
New Update

SAN FRANCISCO: Apple Computer Inc. executives have filed with securities

regulators to sell about $25 million in stock so far this month, including a

filing on Monday by the company's chief financial officer to sell stock worth

more than $6 million, documents showed.

Advertisment

Three executives including chief financial officer Fred Anderson on Monday

announced plans to sell shares in form 144 filings with the US Securities and

Exchange Commission. Since the start of the month, there have been nine such

filings by Apple executives, apparently timed to take advantage of a recent

rally in the share price.

An Apple spokeswoman could immediately comment.

Shares of the computer maker, buoyed by success of new designs, an upgraded

operating system and a new chain of stores, have been trading near their highest

level since September 2000, when Apple issued a results warning that cut the

price of its stock in half to around $25 in one day.

The roughly 1 million shares to be sold under the SEC fillings this month

represented about 0.29 per cent of Apple's 366 million diluted shares

outstanding as of March 31. The SEC filings show that Anderson in two instances

registered to sell a total 259,000 shares worth $6.2 million and executive vice

president of Worldwide Sales Timothy Cook in four instances, prepared to sell

342,500 shares worth $8.3 million.

Nancy Heinen, senior vice president and general counsel, made two filings to

sell a total 200,000 shares worth $4.8 million, and in one filing Sina Tamaddon,

senior vice president, applications, was recorded as expected to sell 250,000

shares worth $6.1 million.

tech-news