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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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.
Read More