Steve Jobs Sells Nearly Half His Apple Stock?

I’m no expert on how to read SEC filings, but this one from Steve Jobs looks to me like he’s declaring his intention to sell 4,573,553 of his 10,000,004 shares of Apple. At $64.66 a share, that’s more than $295 million. (Via Dean Allen.)

Update: This poster on Yahoo’s finance forum argues that this isn’t a stock sale, per se, but rather that Jobs is surrendering these shares back to Apple for tax purposes. Second Update: More or less, Jobs just had 10 million shares vest, and he sold just enough of them to the pay the taxes on all of them. If he hadn’t sold any, he’d have had to pay about $300 million in taxes out of his pocket. (Thanks to Matt Deatherage’s succinct explanation on the MDJ-Talk list.)

Wednesday, 22 March 2006