Apple’s senior executives have been cashing in millions of dollars of stock options this month, with chief financial officer Peter Oppenheimer the most frantic converter.
There’s nothing wrong with cashing in such options, which are granted to senior Apple staff as part of their compensation package. The theory is that if the company does well, so do the shares - execs are meant to benefit this way from good performance.
Since the beginning of October, Oppenheimer has conducted at least 30 such transactions, netting in excess of $20 million.
He’s not the only one. Apple senior vice president Avie Tevanian pulled in at least $22 million; Apple senior vice president Bertrand Serlet sold shares worth just South of $5 million and Apple director, former chief financial officer Fred Anderson grabbed $1.3 million realising his stock options.
All these transactions have been revealed to the public within a US Securities and Exchange Commission insider transactions filing.