Three senior Apple executives this week sold a combined $75 million in restricted stock while other execs settled their tax bills.
Most senior executives bar Apple CEO Steve Jobs and new General Counsel David Cooperman were forced to deal with a series of restricted stocks which had been vested and were set to expire.
AppleInsider reports senior vice president of retail, Ron Johnson, senior VP of worldwide product marketing Phil Schiller, senior VP of software engineering Bertrand Serlet, and senior vice president of applications Sina Tamaddon each converted 250,000 restricted stock units to shares. Each exec then decided to surrendered some of these shares in order to cover their tax liability on the awards.
Apple's chief operating officer Time Cook, its VP of Apple's iPod division, CFO Peter Oppenheimer and senior vice president of industrial design, Jonathan Ive, also took up share options, selling some to cover their tax bill.