“Apple Inc. Chief Executive Officer Steve Jobs, who received $1 in salary last year, may reap a potential profit of $13.7 million by exercising options to buy shares,” Phil Serafino reports for Bloomberg.
“Jobs bought 120,000 shares for $5.75 apiece this week, according to a regulatory filing yesterday. The Cupertino, California-based company gave Jobs the options under a 1997 plan for directors, according to an April filing. Jobs hasn’t sold the shares and has no plans to do so at this time, Apple said,” Serafino reports.
“Jobs now owns 5.55 million Apple shares, worth about $665 million, based on yesterday’s closing price. His options on the 120,000 shares would have expired Aug. 14,” Serafino reports.
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