Apple VP of iOS Scott Forstall cashes in $38.7 million of Apple shares
Tim Cook's salary came up in the news last month when he was awarded a million shares of Apple stock, and cashed out a few, in addition to his many other forms of compensation. And here's another Apple manager who's taking advantage of Apple's soaring stock price when he can. Vice President of iOS Scott Forstall reportedly cashed out over 64,000 Apple shares last week, earning US$38.7 million from the sale.
Forstall picked up those shares in 2008. He got 120,000 shares back then as part of a bonus, and as those just vested (minus about half for taxes), he went ahead and cashed them out. But this doesn't leave Forstall without an investment in the company. He's still got 250,000 shares set to vest at different times in the next few years, in addition to 2,988 shares currently held, and that's in addition to an annual salary of $700,000. What did Forstall do to earn all this money? Oh, just run the iOS division, which picked up $29 billion for Apple in just the last quarter. Just that.
Subscribe to Newsletter
Software Updatesmore updates
- Dropbox adds file/folder renaming and Office document editing to iOS app
- Vizzywig 8xHD price tag now a very affordable $49.99
- Automatic targets teen drivers with License+ service
- Dropbox adds support for TouchID
- YouTube for iOS gets updated with full support for iPhone 6 and 6 Plus
- iOS 8.0.1 update now available (Updated -- Don't update!)