Thursday, July 20, 2006, 03:00 pm
Apple marketing chief nets $5.6M on stock saleApple's Senior Vice President of Worldwide Product Marketing Phil Schiller is the latest company executive to reap the benefits of Apple's stock-based compensation plan.
Pursuant to a trading schedule he established late last year, Schiller this month sold a total of 98,125 shares of Apple stock at prices between $57.10 and $57.34, generating approximately $5,614,900.
All 98,125 shares were acquired by him under Apple's 2003 Employee Stock, regulatory filings with Securities and Exchange Commission revealed. Following the sale, Schiller retains 256 shares granted to him under the plan.
This latest sale lifts the Apple marketing chief's two-year stock profit total to over $15,000,000, according to calculations performed by AppleInsider.
In the fall of 2004, Schiller exercised 286,250 employee stock options and generated more than $8,000,000 in profit. Four months later, he sold 75,000 shares for an additional $2,300,000 gain.
In addition to his usual duties of guiding Apple's marketing divisions, Schiller is currently overseeing the role of marketing director in Japan with the recent resignation of Yoshiaki Sakito.
Schiller is also the highest-level Apple executive who was not named in either of the recent derivative lawsuits filed by investors against current and former company executives and board members.