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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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
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21 Comments

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