“According to an SEC Form 4 filed Friday, Bill Campbell, a key Apple board member and a close friend and adviser to Steve Jobs, executed a ‘non-sale transfer’ of 60,000 shares of Apple stock worth more than $7.7 million in late August — including directors options he’d been holding for eight years,” Philip Elmer-DeWitt reports for Fortune.
“It’s not clear where Campbell transferred those shares or for what purpose. In 2007 Campbell sold 160,000 shares with an average strike price of $5.75, clearing nearly $17 million in the sale,” Elmer-DeWitt reports. “But those options were approaching their expiration date. Some of the options he transferred on Aug. 27 weren’t going to expire until 2018.”
“It’s also not clear how many — if any — Apple shares Campbell retained. But the size and timing of the transfer could be significant,” Elmer-DeWitt reports. “One possibility — and this is purely speculative — is that he is reconsidering his position on Apple’s board.”
Elmer-DeWitt reports, “Campbell, who is chairman of Intuit, is also a close adviser to Google CEO Eric Schmidt, who resigned his position on Apple’s board on Aug. 3 because of growing conflicts of interest. Although not a member of Google’s board of directors, Campbell attends its board meetings — the only outsider who does so.”
Read more in the full article here.