“Scott Forstall took home a chunk of change Friday,” Philip Elmer-DeWitt reports for Fortune.
“Taking advantage of Apple’s (AAPL) relatively high (but not record) share price, the company’s senior vice president for iOS software — someone often mentioned as possible successor to Steve Jobs and Tim Cook — sold 64,151 shares at prices ranging from $601 to $605 to clear $38.7 million in one day,” P.E.D. reports. “The shares were the remains of a 120,000-share retention bonus that was granted in 2008, vested last month and reduced by 55,849 shares on March 24 to pay taxes. Forstall still holds 2,988 Apple shares worth, at Friday’s closing price, $1.8 million.”
P.E.D. reports, “Although the sale represented 95% of Forstall’s current Apple holdings, that doesn’t mean he’s getting ready to leave the company. He has two more retention bonuses in the wings…. Fostall could be looking at a windfall worth at least a quarter of a billion dollars.”
Read more in the full article here.