Google CEO declines Apple automatic stock option grant; plans to buy 10,000 AAPL shares instead

Apple Store“Apple Computer Inc. said Friday that Google Inc. Chief Executive Eric Schmidt plans to buy 10,000 of Apple’s shares in the open market, after declining its automatic stock option grant given to new directors,” MarketWatch reports.

“The Cupertino, Calif., company announced the election of Schmidt as a director to its board Tuesday. Schmidt also sits on Google’s board,” MarketWatch reports.

“Apple Computer said in a Securities and Exchange Commission filing that Schmidt declined its automatic stock option grant of 30,000 shares to which new directors are entitled under the company’s 1997 director stock option plan,” MarketWatch reports. “The company didn’t say in the SEC filing why Schmidt declined the automatic grant or when he plans to buy shares of Apple Computer in the open market.”

Full article here.
Schmidt’s broker must be one happy camper.

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21 Comments

  1. I have been observing Steve Jobs behavior for years, his primary goal is to make money, lots of it.

    His behavior is just like mine in developing real estate, take a piece of junk, improve on it and make others believe if they buy it they will make money too.

    His plan is to sell Apple to Google, much like he orchastrated the sale of Pixar to Disney, then retire.

    Google is the only thing powerful enough to take on Microsoft, but first Steve Jobs had to make a few changes to Apple to make it a attractive buy to Google and take on M$.

    I for one welcome our new Google overlords…

  2. I disagree with Stock Watcher. I think that in his own way, Steve and others are plotting and executing the long-term emasculation of M$. Grab the raisins…snip. They are making a M$ hegemony unnecessary– and undesirable. With time, if it hasn’t happened in large part already, M$ products will be an example of crappitude, not necessity.

    I believe Apple has always been Steve’s baby. NeXt was an attempt to recreate the original Apple because it had been hijacked by a punch who didn’t “get it.” And Pixar was much the same– Pixar didn’t start as a movie house, but a hardware and software house. The movies came as a fortunate accident (read Lasseter), not because of Steve entirely.

    I can understand if Steve eventually leaves– people change. But I strongly disagree that he’s setting Apple up for a sale to anyone. If anything, he is putting Apple on steroids so that it gets so big, no one will be able to swallow it.

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