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.
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.