“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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Seven out of eight ain’t bad… I suppose I truly am a Rich American Bastard.
$64.66 a share is what Steve got.
The bad news is Steve didn´t sell these shares at around $85 a share.
The good news is that he didn´t have to sell them for what us stock holders would have to sell them for $59.
Thanks.
Alan Smarden:
“Most of the world probably wouldn’t hate us as much as they do now”
R: “Most of the world doesn´t hate us. (I live in Europe-no one hates us here.) Over the years countries have disliked the U.S. I remember that Germany and Japan went to war with the U.S. in the 1940s. The British tried to stop a revolution in the U.S. in the 18th Century, The Russians (and eastern Europe) and China had a cold war going with the U.S. for over 50 years – threatening the U.S with nuclear weapons!
Alan Smarden:
“We wouldn’t be spiraling into serious debt”
R: This is not the first time the U.S. govt. has been in debt.
Alan Smarden:
“Americans would not be wire tapped”
R: Americans have been wire tapped since the technology was available decades and decades ago.
Alan Smarden: “People wouldn’t question their civil rights”
R: Americans have always questioned their civil rights. That´s why there is even part of the U.S. Constitution (written in the late 1700s) regarding Civil rights.
Alan Smarden: “and the list goes on and on”
R: Only in your mind.
Alan Smarden: “Anyone else read 1984?”
R: Yes, and it has absolutely nothing to do with today´s world. Except maybe in Russia, China, Cuba, North Korea, or other countries with dictatorship type governments.
Pate
Thanks. After reading your post I left my Mac on for several hours running Ethereal. Apart from ARP and DNS requests and replies to and from my router, absolutely nothing attempted to contact the outside and nothing else came in.
So now I know there’s no nasties in the background exactly as I thought there weren’t, and I know my firewall is working to boot. Thanks again.
“7: Your not living in fear.”
How can people not be living in fear. Have you listened to waht the government has been saying for 4 years. Let us do what we want or the boogeyman terrorists will get you.
Of course the intelligent can see right through this. So my advice if you want to live in less fear, become more educated.
Most of the world probably wouldn’t hate us as much as they do now”
R: “Most of the world doesn´t hate us. (I live in Europe-no one hates us here.)
Sorry to disappoint you World Traveller, but I can assure you that vast numbers of Europeans do hate America at present. Or, to be more precise, the current administration and its policies. I don’t think there’s much concern about the average American citizen, although some bemusement with the apparent growth of the gun-toting abortion-hating intelligent-design mob.
I noticed most of the post has nothing to do with the issue. Please stop arguing about politics, we’re talking about Steve’s receiving his stock options.
The key word is “withholding” that means he technically didn’t sell his stocks. But Apple has to sell the portion of stocks owed to Uncle Sam. The rest Steve can keep in stock not “cash.”
At 4.5M that means his tax bracket is 45%, that means he is being tax more than an average Joe. Most of the wage earner is taxed between 20 – 35%, depends on income level of course. So please don’t look at how much money he received but the percentage of tax that he has to pay that matters. The rich does pay more in taxes in that sense.
It’s amazing how these things turn into political debates all the time. And do you know who starts them? Liberal left wacko’s who don’t have all the facts. Don’t just spit out rhetoric for everyone elses sake, back it up with facts, even if it includes Democratic predisents or administrations. It’s only once in a while that user’s like “Word Traveler” make common sense fact responses to Alan “Smear”lan’s generalities.
That issue is, if you don’t like this administration, you can always vote at your next election to chang it or renounce your citizenship and move to another socialist or communist country. I hear N. Korea or Iran is pretty popular this time of year.
I had to live through 8 years of Clinton. AND I am so glad we don’t have Gore as president. Although I wanted to complain [often], I did my complaining at the ballot box. Liberal people are always unhappy. They always complain about something.
And before you respond that I am doing the same thing by starting a political debate, you don’t need to be a welfare case [government taking social responsibility-as opposed to you being responsible] to figure that out.
I changed from Democrat to Republican years ago when I got overwhelmed by Dem’s entitlement supports and bleeding heart attitude for every lazy bastard making poor choices. I got sick of watching the welfare system become a haven for lazy people, who stupidly and sometimes purposely birthed themselves into poverty. I actually overheard one say, as she handed the cashier her food stamps “Yep this one’s walkin’ time to have another!” They might as well just put their lips to my paycheck and suck.
Reality Cheque: “Sorry to disappoint you World Traveller, but I can assure you that vast numbers of Europeans do hate America at present.”
B.S.
I am an American who works and lives in Europe for over 10 years – there is no hate of Americans in Europe.
Maybe there are some that dislike the current U.S. govt. Administration (heck half the people in the U.S. didn´t want the current U.S. president. Bill Clinto could only get 43% of the Americans to vote for him.)
Back in the late 60´s and early 70´s lots more Europeans disliked America´s policies in Viet Nam.
But hate – nah.
You want hate, go to Saudia Arabia, Pakistan or Afghanistan and start yelling real loud you are a Christian and read from the Bible.
You will see real hate there. Hate is where the other wants to do physical harm to a person. You will see that if you announce you are a Christian in those Muslim countries.
Okay – Steve owed a big tax bill.
So why did he sell his Apple stock?
Why didn´t he sell his Pixar or Disney stock?
Why didn´t he just write a check?
Why is he selling Apple stock? Does he know something we don´t know. Of course! Apple stock is going lower – sell now.
Stockboy
If Steve had sold $295m worth of Pixar/Disney stock, he would also have had to stump up the tax on the profit that he’d made on those shares, thereby significantly increasing the tax bill. By selling these stock options back to Apple, he made sure he could still increase his personal net worth and pay the tax due without having to sell any of his existing assets.
Put in the same position I would do the same without even thinking, as I’m sure would you.
just for fun.
hey all you republican right-wing guys, name a few things bush jr has done good for america. ya know, things we can actually observe, same way we can observe high gas prices and people dying in iraq. instead of name-calling, support YOUR side by talking about what good YOUR side has done in the last six years. i’m willing to listen to either side.
mw is brown. god (?) works in mysterious ways.
Matt – your thinking is short-sited. Using your implied logic Hitler could have said the the U.S. allies by entering the war against us and not surrending to us Nazis more people were killed fighting WWII and defeating the Nazis than if everyone would have just given up.
Your “people dying in iraq” vs. whatever comparison.
It is difficult to compare a known with an unknown. What if the U.S. hadn´t gone into Iraq – how many people would have been killed later by a more bold Iraq and strengthened BinLaden/AlQueda? What if Saddam had taken over Saudi Arabia and Kuwait and joined with BinLaden to build the grand PanArabian state they all dream of. How many people would die? What would the price of oil be then? $100, $200, $500 a barrel?
Would they then attack Israel and try to kill all the people there?
Who knows? But you are just trying to say that George Bush is bad. Good you said it. Guess what – Bush is not running for President anymore. He only has 2 more years in office. What are you liberal Democrats going to do to make the world better?
We definitely won´t know for at least another Presidential cycle because no Democrat (Hillary – LOL)) is going to be in the White House in 2009.
Look, guys, this whole Lib-Con thing is intensely boring. However, I’m sure there is somewhere on the Internet where your discussion is relevant. Care to take it there?
Yeah, Edgeley EXile 43, go “I am better than you guys” arrogant snooty, tut-tut “boring” on us.
MDN wants lots of discussions here. The more people ranting and raving the better for MDN in the hits dept.
The minimum wage should be abolished. It is an artificial stopgap that hurts a true free market.
Let the marketplace decide what is and isn’t a fair wage. If the minimum wage is abolished, and a restaurant owner wants to pay $1.00/hour for waitstaff — AND HE GETS ENOUGH COMPETENT WORKERS — fine.
But he won’t get them. And he’ll have to offer more. And people will take the jobs. And the same thing will happen in every other industry.
Let the market decide.
Good day.
P.S. Fuck the uber-liberal, intensely hypodritical pukes like the Fat Teddy Kennedy’s of the world. Yah, thanks for that immigration act of 40 years ago you Kennedy scumbags!
“It’s amazing how these things turn into political debates all the time. And do you know who starts them? Liberal left wacko’s who don’t have all the facts.”
It’s not the ‘liberal left’ that has f*cked up this planet, it’s greedy, selfish capitalist who are so in love with money and power they can’t see there’s something much bigger out there to be a part of.
It’s not the ‘liberal left’ which goes around installing, arming, financing and supporting murderous dictators here, there and everywhere to consolidate their wealth, power and privilege.
People with a right wing bent need to use a bit more of their brain and open it up to other possibilities.
MDN Magic Word: Death
Death to Republican, War Mongering, Anal Retentive scumbags who can’t get their heads out of their asses or womens bellies. Send them to fight for big oil profits and tax cuts. THEY WON’T BE MISSED!
Just for fun, huh
Stuart: “…it’s greedy, selfish capitalist who are so in love with money and power they can’t see there’s something much bigger out there to be a part of.”
But, Stuart, Apple is included in that statement. They are capitalilst, in love with money, and power (owning 75+% of the iPod and download market- controlling how you can listen to music and videos).
So you hate Apple, too? Steve just sold $250 million in Stock just to pay his taxes. Talk about a capitalist pig. And Steve is a liberal Democrat!
And Stuart it was the “liberal left” that got the U.S. into the VietNam war by propping up the military dictators in South Vietnam. It was the liberal left – Jimmy Carter – that helped usher in the Muslim Ayatollah in Iran, by not supporting the dictator Shah. Which dictator should the liberal left support???
Stuart – Do you have a job? Do you give the money you make all away and live in poverty? If not, why are you being a capitalist?
———–
To: Democratic Liberal – your statement “…who can´t get heads out of their asses or womens bellies”.
“Womens bellies”? You are against republicans (who are male and female) with their heads in “womens bellies”. What in the heck does that mean?
The only people to blame for all the problems in America are the citizens themselves! The majority take no part in the politics of this country and then point fingers at whatever administration is in office when they don’t like something. The insufferable arrogance shown by those in Washington exists for only one reason… The People have allowed it! If Americans took an “active” interest in government, this country wouldn’t be in the sad state of affairs that it is. Most Americans don’t even know the 5 rights guaranteed under the 1st Amendment, yet they can name all the characters on the Simpsons!
As for paying taxes. Why do you pay taxes? Read 26CFR 31.3402(p)-1 regarding the Voluntary Witholding Agreement. Nowhere does it say withholdings are mandatory. They are voluntary. If you volunteer (DESIRE as they word it) to hand your hard earned money over to the government, then you have no one to blame but yourself!
America: Freedom to Fascism http://freedomtofascism.com
Why all this whining from Americans about America?
You guys have it great compared to the rest of us.
In Germany and France unemployment is over 10% – the govts. do nothing about it.
Gas in Germany costs nearly $5 a gallon – 80% of it is taxes.
The sales tsx in Germany is 16% on everything you buy – next year it will be 19%!
The garbage collectors, doctors are all on strike in Germany.
In France they have riots by all the non-French (Arabs); the students have violent protests each day because they don´t like a new work rule which says a employer can fire a new worker during the first two years of work.
In Spain the terrorist group ETA finally says they want a cease fire after 30 years and killing through bombings over 800 people.
Yes, there is the bird flu now in Europe.
In some schools in Berlin, Germany they don´t even teach the classes in the native German language because all the kids are foreigners.
The birth rate of Germans is so low that in a few decades there will be no more Germans.
I wish some of you whining Americans would come over here and whine. We need more complainers in Europe and fewer sheep.
And there is not one Apple store in Europe.
The answer to all the problems in America is rather simple…
Stop being a good Republican.
Stop being a good Democrat.
Start being a good American.
MDN Magic Word; they
as in, THEY stood up and took their country back from corrupt politicians!
Yeah the Bush bashing has to stop, this are improving in Iraq, they are atleast up to the standards of West Texas now.
MW: term
Thank god for term limits
….and the democrats said rich people don’t pay tax!!!!