On Monday, Apple director William Campbell spent $690,000 to exercise 120,000 options at $5.75 per share. He sold all those shares for $17,357,271 for a net gain of $16,667,271, according to a series of Form 4s he filed on Wednesday. Thank you iPhone!
What’s interesting is the date of Campbell’s last stock sale as an insider: January 23, 1987. This is practically pre-historic times by Valley standards. Campbell originally was hired at Apple in 1983 but left late in the decade. He was chief executive of Intuit from 1994 to 1998.
Campbell joined the Apple board in 1997 when Steve Jobs returned from the wilderness. But Wednesday marked his first big Apple-related pay day, though we doubt he’s been suffering financially. Also, he still holds 253,015 shares.
And by the way, Campbell wasn’t the only Apple insider busy selling this week. Chief financial officer Peter Oppenheimer sold 135,625 shares on Monday at $144.28 per share to collect $19,567,975. That will sit nicely with the $73.4 million in stock he’s sold since 2002.
Both men were selling under terms of prearranged stocks sales plans known as a 10b5-1 that they filed in January.