By Gary Ng on May 2nd, 2012 0
The man in charge of iOS at Apple netted $38.7 million in sale of Apple stock, as noted last Friday via SEC filings. Last month Scott Forstall, the senior VP of iOS had 120,000 restricted stock units from 2008 vest and sold 55,849 of those shares to offset taxes due at conversion. The remaining 64,151 shares sold last Friday, leaving Forstall a total of 2,988 shares remaining.
Forstall has over 250,000 RSUs in place to vest from 2013-2016, as an incentive for him to remain with Apple. Scott Forstall was revealed in Adam Lashinsky's book, Inside Apple, to be seen as the next CEO-in-waiting.
Other SEC filings revealed Apple board member Mickey Drexler also sold 40,000 shares of longtime held stock on Friday to net $23.7 million, and still holds 584 shares. Drexler is the CEO of clothing retailer J. Crew and the former CEO of The Gap.
During the beginning of last March, Apple CEO Tim Cook sold $11.1 million worth of Apple stock, and later in the month alongside other executives sold $314 million worth of stock. With AAPL riding at all-time highs, this is the time to cash in.
[via MacRumors]
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