by , 10:00 AM EDT, May 14th, 2002
Reuters is reporting that Apple CFO Fred Anderson has filed to sell more of his Apple holdings, an additional 159,332 shares. According to the report, Mr. Anderson acquired the shares by exercising options. This marks the third SEC filing Mr. Anderson has made to sell AAPL shares since April 23rd (see list of recent executive selling below).
The filings were made last week; Apple was hosting its annual World Wide Developer Conference at that time.
Executives of publicly held companies are required by the SEC to formally file their stock transactions involving stock from the company for whom they work.
The report also notes that Sina Tamaddon, Senior Vice President of Applications, has also filed to sell 250,000 shares of his Apple holdings. The report says that Mr. Tamaddon is a member of Apple's Board of Directors, though Apple indicates he is not a member of the Board and carries the above title. That transaction was also filed to take place on May 8th. From the Reuters story:
Apple Computer Inc. Chief Financial Officer Fred Anderson planned to sell $3.8 million worth of shares in the computer manufacturer, a U.S. regulatory filing made public on Monday showed.
In a separate filing, also dated May 8, Apple board member Sina Tamaddon said he planned to sell 250,000 Apple shares valued at $6.1 million.
You can see all of Apple's insider transactions at Yahoo!'s Web site. Apple's stock closed Monday at 23.94, up 0.62 (-0.76%) on moderate volume of 4,743,000 shares trading hands. Join in on the discussion of insider transactions in our Apple Finance Boards.
Recent Apple insider transactions: