as revealed in regulatory filing yesterday, apple senior vice president hardware engineering bob mansfield on monday exercised set of stock options has held number of years, selling off stock gain of $12.5 million. under stock option program, mansfield eligible purchase 30,000 of apple stock @ price of $36.54 per share , sold them off in several batches averaging $452.28 per share.
mansfield's stock options dated award made in june of 2005 enticement him stay company on next several years. options vested june 2009, mansfield has been holding onto them since time apple's stock has continued surge. options set expire in june of year , apple's stock continuing perform well, mansfield undoubtedly thought excellent time exercise options.
mansfield has been relatively active participant in apple's stock option , grant award programs senior executives, regularly cashing in shares while continuing hold small amount of stock. quick sale of week's shares obtained through options, mansfield owns 501 shares of apple stock.
stock sales not mean not invested company, however, mansfield holds 1 restricted stock unit grant see him earn 100,000 shares in 2014 , second grant of 150,000 shares vest in 2 equal portions in june 2013 , march 2016. of grants, worth $114 million @ apple's current stock price, contingent upon mansfield remaining apple.
article link: apple hardware chief bob mansfield cashes in $12.5 million in stock options
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