Friday, December 31, 2010, 07:10 am PT (10:10 am ET)
Apple execs, officers donate over $3 million to charity for the holidaysA handful of Apple executives and officers recently combined to donate more than $3 million worth of company shares to charitable causes.
According regulatory filings with the Securities and Exchange Commission (1, 2, 3, 4), two members of Apple's executive team, as well as two of its directors, teamed up to donate nearly 10,000 shares of Apple stock between December 10th and 17th. At their current valuation, those shares are valued at roughly $3.2 million.
The most generous was Apple board member and J. Crew chief executive Millard Drexler, who gave away 6,800 shares on December 14th worth $2.17 million. Apple's Senior Vice President of Mac Hardware Engineering Bob Mansfield had four days earlier gifted 1,562 of his shares, worth just over half a million.
Also making donations were Apple chief financial officer Peter Oppenheimer and Apple board member Arthur D. Levinson, who on December 17th gave 1,320 and 277 of their shares, worth approximately $423,000 and $89,000, respectively.
None of the filings specify the recipient of the gifts, stating only that the transactions "represent a charitable donation."
On Topic: General
- Apple's e-wallet could debut as soon as this fall, possibly with 'iPhone 6'
- Apple hit with class action lawsuit over alleged labor violations, more than 20K plaintiffs involved
- Apple completed 29 acquisitions in past nine months, not including Beats
- NBA star Kobe Bryant discusses day with Apple's Jony Ive set up by simple cold call
- Apple granted comprehensive 'iTime' smartwatch patent with in-strap circuitry, arm gesture support