Bob Mansfield, the Apple VP in charge of the iPod and iPhone divisions has just sold off 99% of his company fortunes which netted him nearly $14 million. Who needs a salary?
According to a AppleInsider citing Fortune:
Mansfield sold 38,863 shares of Apple stock priced at a weighted average of $351.89 for a total of almost $13.7 million. Mansfield held onto 501 shares of Apple, or roughly one percent of his Apple portfolio.
Mansfield has a trend of buying low and selling high:
In October 2010, Mansfield exercised 40,000 stock options at a strike price of $36.54 to net a profit of $10.8 million before taxes and fees. Mansfield has sold close to $58.5 million worth of stock over the past three years for a net gain of $37.9 million after taxes.
[via AppleInsider]
