Apple CEO Steve Jobs sold 4.5 million Apple shares this month - but only to settle tax liabilities.

Jobs was awarded ten million shares by the company in recognition for his efforts in 2003. He received the shares in exchange for his stock options on 55 million shares. The shares vested this month.

Apple Insider reports that Jobs sold 45 per cent of his newly vested shares in order to raise $295.7 million to pay the tax due on those shares.

Jobs retains 5,426,451 shares (worth about $325.4 million), the report said.