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THINK HE'LL MISS $296 MILLION?
March 27, 2006
The Wall Street Journal ($ link) reports:
Apple Computer Inc. CEO and chairman Steve Jobs has given up nearly half of his stake in the company to satisfy tax obligations on 10 million restricted Apple shares that vested this month.
In a filing with U.S. securities regulators last week, Apple said it has withheld more than 4.5 million company shares, worth $296 million, from Mr. Jobs, leaving the Apple executive with 5.4 million company shares, worth $323 million. The shares were part of 10 million shares of restricted stock Apple awarded to Mr. Jobs in March 2003, a grant that vested over three years.
At 99 cents, that tax translates into approximately 299 million I-tunes downloads, which would almost fill the new 60-gig I-pod.
Cross posted at Chequer-board.net, where I'm filling in this week.
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Comments
I'm too lazy and paranoid (are those attributes in tension?) to set up an account to post a comment over on Pejman's site. Nevertheless, I think Mr. Jobs is going to be OK. It reminds me of the time I sold company stock. Except that I gave the proceeds to my church. And I only sold 100 shares. And I cleared around $3000. And I took a loss. And I'm not obscenely wealthy. But other than that, it is eerily reminiscent.
Posted by: Chad | March 28, 2006 10:43 AM