Scott Forstall Sold 64,151 Shares Friday Worth $38.7 Million

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Posted May 2, 2012 at 1:09pm by iClarified

Scott Forstall, senior vice president of iOS Software at Apple, sold 64,151 shares Friday worth $38.7 million, reports 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.

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.

Although the sale represented 95% of Forstall's current holdings, he gets two more retention bonuses: 100,000 RSUs granted in 2010 and vesting in 2014, and 150,000 RSUs granted in 2011 and vesting in 2013 and 2016.

Forstall also brings in a $700,000 annual salary.

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Scott Forstall Sold 64,151 Shares Friday Worth $38.7 Million

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Russell - May 4, 2012 at 4:08am

As I find out more and more about how apple conducts their business, the less and less I consider them American.

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Thai - May 4, 2012 at 8:56am

It doesn't matter how they conduct their business? In the business world u need to be smart, that's d nice word, d real word is cunning. If ur not then u will be out of d competition in no time. Why do you think that d US has no tv or big consumer electronics brand? All that I know is apple has a huge headquarter in calif, USA that hires thousands of American professional employees. Samsung headquarter is in Korea, n it hires thousands of korean employees n that's not American at all. Support ur last and only american consumer Elec brand.

Thai - May 4, 2012 at 8:58am

Also, name me a big American corporation that doesn't use tricks to evade tax. Even mitt Romney who wants to be a us president paid Lil in income tax while he's making more income than most American. Face d facts

Scott - May 3, 2012 at 12:27pm

No company's stock price is invincible. Not even Apple. I as squint to write this comment from my iPhone as my ipad charges I often ask why do I buy all Apple devices? Brainwashed victim #804,974,142 is why.

Dribble - May 2, 2012 at 11:37pm

If Ashton Kutcher can play the young Steve Jobs, the Steve Buscemi can play the old Scott Forstall.

Russell - May 4, 2012 at 4:03am

Funny! Or how about this guy, Marty Feldman http://www.imdb.com/name/nm0001204/

MartÃn K - May 2, 2012 at 7:46pm

I "wonder" why apple didn't hire Prince before!?!!! He's a f***ing genius and a visionary... Prince, a question: how can apple have sales record year over year and you are the smart one?

Prince - May 3, 2012 at 12:50am

My bad, i guess i got a bit carried away, lol. I suppose i just amplified what ive been hearing and reading over and over from co-workers and friends about siri only available on the 4s, and the screen size. I admit i maybe went a bit over board with my predictions, but all in all, im still quit the apple fan. If the next Iphone doesn't quench every ones thirst, then so be it. Maybe apples stock is invincible regardless of what they add or don't add the the next device.

Thunderbyte - May 2, 2012 at 2:26pm

I just see a lot of blabla in this post. Nothing has to do with Forstall cashing in (which is completely understandable). And nothing points to Apple shares being on a decline. Nothing of the rest makes sense either. iOS devices sell like cheese cake and for sure future devices will do so as well. The last argument ist the worst: A GALAXY NOTE?!?!?!??! SERIOUSLY???? That neither-tab-nor-phone chimera which is too big for every practical use and too small for a tablet?!?!