Apple stock options
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Some Apple execs exercise stock options
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]
Apple options-backdating shareholder lawsuit dismissed
The twisted tale of Apple's backdated stock options drew closer to its final chapter today, with a California judge dismissing the shareholder class-action lawsuit against the company over the allegedly improper accounting procedures. Unlike the SEC, which essentially cleared Apple, the court didn't rule one way or another on the actual backdating issue, but instead found that since Apple's stock price didn't suffer, there was no injury to the shareholders, and thus no basis for the lawsuit. That ruling leaves the door open for a second, amended lawsuit to be filed as part of another proceeding, but for right now, it looks like the only real fallout from the whole mess was the birth of Fake Steve -- and for that, we're not sorry one whit.[Via AppleInsider]
