Steve Jobs uses 4.5M Apple shares to pay $295M in taxes on 10M vested shares

“Apple Computer chief executive Steve Jobs this month used over 4.5M of the 10M restricted shares owed to him by the company to pay income and other employment taxes applicable to those shares,” Kasper Jade reports for AppleInsider. “He did not sell any of his stake in the company.”

“In order to meet his tax obligations on the 10M restricted shares, which vested this month, Jobs elected to net-share settle — essentially allowing Apple to withhold and pay to authorities the portion of the 10M shares that would meet his tax payment requirements,” Jade reports. “On March 19 — the date of the transaction — this portion amounted to 4,573,553 shares at $64.66 a share, or a whopping $295.7M tax payment. Apple then turned over to Jobs the remaining 5,426,451 shares, which at the close of the market on Friday were worth about $325.4M. The value of the withheld shares ($295.7M) will be turned over to the appropriate tax authorities.”

More details in the full article here.

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  1. WOW

    …a rather unusual botnet consisting of computers running Mac OS X and Linux operating systems…

    My Mac was part of a bot net just temporirily, my cable modem lights was blinking in the middle of the night. I installed Apple’s “Big Top” which has a outgoing packet recorder which I recorded unusual outgoing activity at set times of the night.

    I promply booted from a install disk, zeroed the hard drive and did a fresh install and update. Then I changed my ip address with my service provider.

    Now I keep a configuration cloned on a external drive using Carbon Copy Cloner.

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