AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content.
According to regulatory filings with the Securities and Exchange Commission, Johnson exercised the 700,000 options at $23.72 apiece on Friday, October 26 — the same day Apple launched its Mac OS X Leopard operating system — and then turned around sold the shares on the open market from $185 to $185.21 apiece.
Over 606,000 of the shares, which the retail chief acquired under Apple's 1997 Employee Stock Option Plan, were sold at exactly $185. The remaining shares were sold at various intervals with Apple's share price ranging from $185.01 to $185.21.
Johnson's estimated net profit on the options is approximately $113 million before taxes.
Interestingly, Friday was the second time the Apple retail chief has exercised 700,000 or more options in a single day. Back in August of 2005, when Apple stock was trading in the $45 range, he cashed in on 750,000 shares for a profit of $22.6 million.
Johnson also exercised 300,000 options back in November of 2004 for a profit just shy of $10 million.