xiberia Posted March 25, 2006 Share Posted March 25, 2006 http://www.theregister.co.uk/2006/03/24/jobs_apple_stock/ Last week (apparently) Steve Jobs sold 45% of his Apple stocks to pay a tax bill. Is Apple really that skint? Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/ Share on other sites More sharing options...
wiebeest Posted March 25, 2006 Share Posted March 25, 2006 http://www.theregister.co.uk/2006/03/24/jobs_apple_stock/ Last week (apparently) Steve Jobs sold 45% of his Apple stocks to pay a tax bill. That would be...very unlikely. But... to be celebrated on April 1. Early April fools day-joke? Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/#findComment-82627 Share on other sites More sharing options...
MacSpaces Posted March 25, 2006 Share Posted March 25, 2006 ohh you guys still dont know the news regarding apple and microsoft? lets just say microsoft is hp and apple is compaq...good night Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/#findComment-82704 Share on other sites More sharing options...
ampTK Posted March 25, 2006 Share Posted March 25, 2006 He did not sell any of his stake in the company. In order to meet his tax obligations on the 10M restricted shares, which vested this month, Jobs elected to net-share settle -- essentially allowing Apple to withhold and pay to authorities the portion of the 10M shares that would meet his tax payment requirements. On March 19 -- the date of the transaction -- this portion amounted to 4,573,553 shares at $64.66 a share, or a whopping $295.7M tax payment. Apple then turned over to Jobs the remaining 5,426,451 shares, which at the close of the market on Friday were worth about $325.4M. The value of the withheld shares ($295.7M) will be turned over to the appropriate tax authorities. From this Appleinsider article Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/#findComment-82719 Share on other sites More sharing options...
thrunner Posted March 25, 2006 Share Posted March 25, 2006 http://appleinsider.com/article.php?id=1621 As part of the net-share settlement, Apple will essentially sell, repurchase and then retire the 4,573,553 shares it used to pay Jobs' taxes.Actually Jobs got Apple to do it. That is even better for Jobs. Having your company pay for your income tax. That is not a bad deal. Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/#findComment-82723 Share on other sites More sharing options...
warmcola Posted March 27, 2006 Share Posted March 27, 2006 ohh you guys still dont know the news regarding apple and microsoft?lets just say microsoft is hp and apple is compaq...good night all of this was done in such a way that those 5 million shares sold to pay off taxes came straight back to apple to minimze the number of outstanding shares on the market. thus taking away the chance of any one company grabbing up a hefty chunk out of apple. Link to comment https://www.insanelymac.com/forum/topic/13013-jobs-sells-his-apple-stocks/#findComment-83907 Share on other sites More sharing options...
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