AppleInsider Staff
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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18 Comments
I would LOVE to buy $500 value stock for $7. What bullshit.
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.