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-   -   Two more Apple directors sell stock options, pocket $19 million (http://forums.macnn.com/112/mac-news/502690/two-more-apple-directors-sell-stock/)

 
NewsPoster Aug 1, 2013 01:57 AM
Two more Apple directors sell stock options, pocket $19 million
Less than a week after Apple CFO Peter Oppenheimer <a href="http://macnn.com/rd/290900==http://www.macnn.com/articles/13/07/26/sale.follows.post.earnings.stock.jump/" rel='nofollow'>sold some of his AAPL holdings</a> to the tune of $16.4 million, two other members of Apple's board have let go of smaller amounts of stock, grossing a total of $19 million before taxes in recent days. Long-standing board member and J. Crew CEO <a href="http://macnn.com/rd/290901==http://www.sec.gov/Archives/edgar/data/320193/000118143113042043/xslF345X03/rrd386843.xml" rel='nofollow'>Millard Drexler</a> sold 32,562 shares in the company (gaining $14.6 million) while Intuit Chairman <a href="http://macnn.com/rd/290902==http://www.sec.gov/Archives/edgar/data/320193/000118143113042044/xslF345X03/rrd386813.xml" rel='nofollow'>William Campbell</a> sold 10,000 shares for a gross gain of $4.4 million. Both men sold shares awarded to them from their director stock options.<br />
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Drexler, having waited a bit longer to sell his stock, fetched a better price -- selling at an average of $448 to $449 per share. Campbell's average sell price was between $440 and $441. The exact price was determined by the timing of the sale, and both men sold their shares in small batches. In Campbell's case, the stock was bought at $10.91 per share, and he retains some 1,961 shares of stock in the company. Drexler's shares were purchased at prices varying between $113 and $202 per share, and he retains some 971 shares in the company.<br />
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