Apple Exec sales beginning to look suspicious...

[meta-ghost]

The sale of stock by Apple execs is beginning to arouse interest. Keep in mind the article's point that what was sold was stock options. These tend to be far less actively traded and come with numerous restrictions.

http://sfgate.com/cgi-bin/article.cgi?f=/news/a/2002/06/28/financial1430EDT0178.DTL

 

[3rdpath]

as well it should draw some interest.

it seemed suspicious to me.

the SEC should only allow insider selling 1 month after earnings reports. that would narrow the window of abuse considerably.

 

[Ibjr]

Drudge Report!

Drudge Report had it too, so lots know of it.

 

[rice_web]

The day that I heard about this I knew that something was coming. It was easy to tell that earnings were going to be below expectations. Heck, even in my fantasy stock market game (I'm too cheap for the real market), I sold my Apple stock.

 

[G4scott]

Maybe the Apple Execs wanted to buy a personal yacht for his Steveness, and a condo in the caribbean...

The only problem, is that when you are the CFO of a company, and you have tons of stock options, and you see that the company won't meet expectations, you would sell shares. At least they didn't sell all of their shares...

 

[Ibjr]

Originally posted by G4scott
Maybe the Apple Execs wanted to buy a personal yacht for his Steveness, and a condo in the caribbean...

The only problem, is that when you are the CFO of a company, and you have tons of stock options, and you see that the company won't meet expectations, you would sell shares. At least they didn't sell all of their shares...

The only problem, is that when you do that it is insider trading.

 

[sparkleytone]

well these guys are only allowed to sell their stocks at certain times, deemed as such by the SEC. i don't see any wrong in it. nothing wrong with liquidating a few assets for some extra cash. its not like they jumped ship.

 

[G4scott]

Originally posted by sparkleytone
well these guys are only allowed to sell their stocks at certain times, deemed as such by the SEC. i don't see any wrong in it. nothing wrong with liquidating a few assets for some extra cash. its not like they jumped ship.

I don't think that its the SEC who says when they can sell or not sell. If I remember correctly, its the company, and there is no law saying that they have to (or at least I think so). Apple does not have do disclose their rules for execs trading stocks.

 

[FelixDerKater]

Odd...

Sounds like Martha Stewart has infected all of corporate America. Too bad it has to happen at Apple.