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Thursday, January 17, 2013, 07:52 pm
Al Gore buys 59K shares of AAPL stock valued at over $29.6M
It was revealed in an U.S. Securities and Exchange Commission filing on Thursday that Apple board member Al Gore purchased 59,000 shares of AAPL stock worth over $29.6 million based on the stock's closing price today.
The SEC filing notes that Gore exercised the director stock option on Tuesday to acquire 59,000 shares at a price of $7.475 per share, meaning the purchase cost him roughly $441,000, reports The Next Web.
With AAPL closing Thursday $502.68 per share, Gore's 59,000 shares are currently worth some $29,658,120. According to the filing, Gore still has 61,574 non-derivative shares left after the transaction.
Gore was appointed to Apple's board in 2003.
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Previous Comments View All
That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!
That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!
Well odds are they were long-term options contracts made when Apple was still under $7 per share. In 2003 Apple's shares stayed under $6... If you had bought Apple shares or options in 2003 you could also get them for that price.
Seriously, you people need to learn how markets work...
I would LOVE to buy $500 value stock for $7. What bullshit.
When he joined in 2003, he was given stock options with a price tag of $7. The stock was around $6-7 then.
Exactly, when u buy stocks, it keeps the same price tag for you forever. If i bought stocks in 2003 at $7 a share, and i want to buy it today, it will still be the same price tag as a share owner.
That is outrageous for Apple to do that. As an Apple shareholder I find that to be nauseating. SHAME ON APPLE !!!!
Oh good grief ...
Seriously, you people need to learn how markets work...
Yes, a little background reading would go a long way.
If you're on a company board and were given options you can exercise later and the stock goes up during the time you're serving on the board, yes, that's considered compensation based on the performance of the company you were hired to help govern.
Wow. I had forgotten that Apple shares were that low as recently as 10 years ago. And even at the currently depressed $500 a share price that's a 7143% return. I think my cheapest shares that I still own were priced at around $175.
Glad to see that some sense has re-enered in the analyst fantasyland and some firms are once again predicting an $1100 share price, although I see the stock is down another 4 points at the moment. Down, even though Apple is expected to announce next week that they sold 50 million iPhones in the previous quarter. For many companies, even if they only sold for $3 each, that would be great news.
Exactly, when u buy stocks, it keeps the same price tag for you forever. If i bought stocks in 2003 at $7 a share, and i want to buy it today, it will still be the same price tag as a share owner.
Wait, what? Really? That sounds wrong.
I would LOVE to buy $500 value stock for $7. What bullshit.
You could have, roughly a decade or so ago.
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I would LOVE to buy $500 value stock for $7. What bullshit.