Several Apple executives took advantage of the fact that Apple stock hit an all-time high recently to cash out some stock options for extra christmas spending money. Apple hit $319 on October 18 and Bertrand Serlet, software engineering senior VP exercised 5,000 options at $318.50 while controller Betsy Rafael, operations SVP Jeffrey Williams and hardware SVP Bob Mansfield all sold at over $300.
Mansfield in particular made a killing exercising 40,000 options that were priced at $36.54 for $308 each. That's a tidy profit of $10.844 million. Sometimes it's worth hanging on to those options for a while. If only all stock options were so valuable. Mansfield has overseen the development of a number of Apple computers in recent years including the slim new MacBook Air, the iMac and the regular MacBook.
[Source: Fortune via Macsimum News]