• Your favorite

    Apple

    ,

    iPhone

    ,

    iPad

    ,

    iOS

    ,
    Jailbreak
    , and
    Cydia
    site.
  • Tim Cook, Eddy Cue Exercise Stock Options


    Last week, two of Apple's most powerful executives were granted more that 120,000 shares of vested stock.

    Disclosed today via documents filed with the SEC, Apple CEO Tim Cook and SVP of Internet Software and Services Eddy Cue both exercised stock options, although Cook did not sell any of his stock.

    Cue, on the other hand, converted 50,000 units out of the 100,000 units he was awarded two years ago. The other half of these shares will be vested by September of 2014.

    The documents show that Cue sold 24,500 shares (average price of $504.18) to bank a cool $12.39 million. Cue withheld another 25,420 shares (at $501.02 per share) for taxes.

    Apple boss Cook didnít sell any of his 72,877 vested shares, though he did stash away some 38,000 shares to satisfy tax requirements. Cook has another 840,000 shares scheduled to vest throughout the next eight years.

    Source: SEC filing (via Tech Crunch)
    This article was originally published in forum thread: Tim Cook, Eddy Cue Exercise Stock Options started by Michael Essany View original post
    Comments 5 Comments
    1. *T*'s Avatar
      *T* -
      I learned nothing from this. What is the crap about the "tax requirements?"
    1. tat2me2's Avatar
      tat2me2 -
      Quote Originally Posted by *T* View Post
      I learned nothing from this. What is the crap about the "tax requirements?"
      I think it's because selling your stock is considered income by the feds, therefore you must pay taxes on said income !!!
    1. tridley68's Avatar
      tridley68 -
      Quote Originally Posted by tat2me2 View Post
      I think it's because selling your stock is considered income by the feds, therefore you must pay taxes on said income !!!
      Wish I had their cash flow problem .it is sickening that Uncle Sam gets a share and he did not work for it .
    1. bigboyz's Avatar
      bigboyz -
      ^^Just like any casino, the "House" always wins. Uncle Sam always gets a piece. Now you understand why Apple keeps most of its cash hoards overseas.
    1. quidam_brujah's Avatar
      quidam_brujah -
      Quote Originally Posted by bigboyz View Post
      ^^Just like any casino, the "House" always wins. Uncle Sam always gets a piece. Now you understand why Apple keeps most of its cash hoards overseas.
      Right, because they don't want to actually pay to support the environment that made those profits possible -- let some other schmoe pay.