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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Google CEO on Apple’s board opens up many possibilities, including outdueling Microsoft – August 31, 2006
Re: Google CEO elected to Apple Computer’s Board of Directors – August 30, 2006
Dvorak: Does Apple’s board addtion of Google’s Schmidt portend Apple-Sun merger? – August 30, 2006
Apple and Google cozy up to make Microsoft jealous – August 30, 2006
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21 Comments

  1. I’ve said it before:

    If Apple does actually go down the tubes and I seriously doubt this will happen, the big player left will find itself in an anti-trust lawsuit because of a complete lack of competition for consumers and buisiness tactics reminiscent of Ma Bell. Now if the Linux players wanted to really make a dent for competition in the PC market, 4 things need to happen.

    1. IT HAS TO BE EASY TO USE AND INSTALL SOFTWARE.
    2. IT NEEDS MORE SOFTWARE.
    3. USING THE COMMAND LINE SHOULD BE MADE IRRELEVANT.
    4. LINUX NEEDS BOOT TIME OPTIMIZATION.

    Don’t get me wrong, I like Linux, (I like OS X even more) but we need Linux developers out there who can tackle these areas on a full time basis. Sadly, a lot of these great programmers do development in their spare time.

  2. Smart move on Schmidt’s part: For a $7 Scottrade commission, he completely side-steps any scandal.

    Steve Jobs ain’t selling his baby. Apple is not for sale to Google or anyone else.

    @ imacDave: You just described MacOS X; Linux is irrelevant (and likely to remain so.)

  3. Peterson/Dissasater (sic):

    OK,

    You sell $50K worth of AAPL short and I’ll buy another $50K and hold until late December. We’ll see who makes money. Ready to put your money where your ignorant mouth is? You’re so brilliant you’ve obviously forseen the recent investment history of AAPL and made a 1000% profit over the last 4 years, right? See, I’ve invested actual money and made a bundle and I didn’t do so by taking the advice of internet forum trolls. Thanks for playing. We have some lovely parting gifts.

  4. 3. USING THE COMMAND LINE SHOULD BE MADE IRRELEVANT.

    Obviously from someone who doesn’t use and probably never used the command line. Go back to OS9.

    But for those of us who need to get work done the command line will remain a useful too to have in our toolbox.

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