Former Apple Computer (AAPL)
executives are getting out while the getting is good--they
reportedly filed to sell off chunks of their shares while the stock is
trading near its 52-week high.
Former chief executive Gilbert Amelio and former vice chairman Mike
Markkula filed with the SEC Monday to
lighten their load of the company's stock.
Amelio filed to sell 120,000 shares and Markkula filed to sell 500,000
shares, as reported by the San Jose Mercury News. Based on the
stock closing price Wednesday of 23-5/8, the transactions would be valued
at about $2.83 million and $11.81 million, respectively. The company's
stock peaked at its 52-week high of 29-3/4 last week.
According to the company's latest annual report, Markkula held 2.6 million
shares, just over 2 percent of the company's outstanding stock.