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Steve Jobs sells almost half Apple stock


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Steve Jobs sells almost half Apple stock
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Benton
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2006-03-22, 21:14

What does this portend? Info from SEC filing.
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Mac+
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2006-03-22, 21:30

This is from Daring Fireball (damn I like that site - I don't visit it every day, but when I do I always enjoy reading the links JG provides.)

Quote:
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.
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ghoti
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2006-03-22, 21:32

OMG, Jobs is going to buy Disney!!!1!1!!11
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Chinney
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2006-03-22, 21:36

Maybe it means he wants to invest in Microsoft.
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Benton
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2006-03-22, 21:36

3-19-2006 SJ sells 4,573,553 at 64.66
leaving 5,546,451 shares owned.
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Mac+
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2006-03-22, 21:49

I could have sworn oldmacfan had the second post with a picture of a red curtain and lock. *gone*
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MCQ
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2006-03-22, 21:50

Yep.

SEC Form 4:

http://www.sec.gov/Archives/edgar/da.../rrd111744.xml

Probably should move to GD now.
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ghoti
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2006-03-22, 21:50

Jobs has bought AppleNova
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Windowsrookie
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2006-03-22, 22:19

hmmm. Thats alot o money, retirement?
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Brad
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2006-03-22, 22:20

Quote:
Originally Posted by Mac+
I could have sworn oldmacfan had the second post with a picture of a red curtain and lock. *gone*
Removed because it was unnecessary and rude.
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Mac+
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2006-03-22, 22:32

cheers - I didn't even figure that was his intent ... brain on holidays.
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ghoti
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2006-03-22, 22:36

Why was that post rude?
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Brad
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2006-03-22, 22:41

It was rude because it needlessly implied that the thread should be locked, much like how some people clamor "IBL!" when they think a thread is redundant. If you wish to discuss my choice of actions further, please post in the Feedback forum or use private messages instead of further derailing the thread.

The quality of this board depends on the quality of the posts. The only way to guarantee thoughtful, informative discussion is to write thoughtful, informative posts. AppleNova is not a real-time chat forum. You have time to compose messages and edit them before and after posting.
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ghoti
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2006-03-22, 22:53

Just wondering

But to post something (slightly more) useful: That is a lot of money, that can't just be taxes. I mean, what should he pay those taxes for? And what can you possibly do with $300 million? Looks like he's going to buy/invest in a start-up or something ... so this thread might be better suited for Speculation and Rumours, after all.
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Benton
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2006-03-22, 23:02

Quote:
Originally Posted by ghoti
Just wondering

But to post something (slightly more) useful: That is a lot of money, that can't just be taxes. I mean, what should he pay those taxes for? And what can you possibly do with $300 million? Looks like he's going to buy/invest in a start-up or something ... so this thread might be better suited for Speculation and Rumours, after all.
The Yahoo post about needing to pay taxes is nonsense. Vesting of stock is Not a taxable event.
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scratt
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2006-03-23, 00:21

I read this on another forum somewhere....

Quote:
Mac OS X 10.4.6 is coming along slowly but surely, according to developer sources; one of the chief improvements is a significant overhaul of Tiger's graphics engines in preparation for this summer's gamer-related announcements. Steve Jobs wants to be able to announce that the Mac is the ultimate platform for game players and game developers not only because it's easy to use and easy to develop for -- but because it has the best, most efficient OpenGL 3D graphics implementation anywhere. A substantial performance boost will be a cornerstone of those announcements and 10.4.6 is intended to deliver that boost.
Perhaps he is funding updated OpenGL drivers himself, because someone needs to sort them out!!!!

But seriously.. Maybe he's starting a games division / console...

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
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Brad
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2006-03-23, 00:23

Quote:
Originally Posted by scratt
I read this on another forum somewhere....
Good grief.

Source?

http://www.macosrumors.com/

Right.
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scratt
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2006-03-23, 00:31

Actually I read it somewhere else and have been trying to digg up the original source... Thanks Brad.

I have to admit even in my pretty hung over state I found it pretty bogus, and thought it might have been totally bogus. But then thought it might add fun to this thread.

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
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Satchmo
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2006-03-23, 16:44

Kind of surprised he didn't sell when it was up in the $80 range. That would have made him around $365 mil instead!
But I suppose what's a few tens of millions to Jobs when he's already in the billionaire club.
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Franz Josef
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2006-03-23, 17:13

Quote:
Originally Posted by Benton
The Yahoo post about needing to pay taxes is nonsense. Vesting of stock is Not a taxable event.
But poster referred to restricted stock: don't these trigger a tax charge on vesting ..... ?
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MCQ
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2006-03-23, 18:29

Oh yeah!

Quote:
Originally Posted by Benton
What does this portend? Info from SEC filing.
Not sure how much it means, but Apple's been stuck in a downtrend since January... consistent selling on high volumes the entire year.

http://finance.yahoo.com/q/ta?s=AAPL...&q=l&p=&a=v&c=

Note the difference in volume level from the run last year, to the levels this year. I made a mistake last month thinking the downtrend was over.

If you're thinking of buying AAPL, I'd wait until the volume begins to dry up a bit.
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BarracksSi
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2006-03-24, 00:38

What's funny to me is that, within the last week, some analysts were recommending AAPL as a "buy" because of its lower current price and that it was sure to go back up.
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billybobsky
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2006-03-24, 01:42

Maybe he just wants to expand his portfolio?
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scratt
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2006-03-24, 01:49

/lazy Can someone clarify if these shares were simply sold back to Apple, or whther he actually sold them in the real world? I understand that the tax thing was rubbish, but noone has clarified if the shares were transferred back to Apple, or sold.
/lazy

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
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Franz Josef
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2006-03-24, 03:47

Quote:
Originally Posted by scratt
/lazy Can someone clarify if these shares were simply sold back to Apple, or whther he actually sold them in the real world? I understand that the tax thing was rubbish, but noone has clarified if the shares were transferred back to Apple, or sold.
/lazy
Entirely unclear. It's an "F transaction" defined by the SEC as "Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3" The tax issue may or may not be valid - if someone would like to share the US tax position when a restricted share vests ...... (boy, oh, boy, this is getting anal )
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scratt
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2006-03-24, 04:20

Thanks Franz.. That definition leaves me about as baffleed as when I ask my Thai lawyer about why I am paying this particular government fee, or bribe, this week for the fifth time in a month.... But I guess that's what I get for being lazy!

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
Extreme Sports Cafe | ESC's blog | scratt's blog | @thescratt
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Franz Josef
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2006-03-24, 04:53

Quote:
Originally Posted by scratt
...That definition leaves me about as baffleed....
And me. The SEC goes out of its way to be unclear.
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DMBand0026
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2006-03-24, 10:48

He's buying the Chicago Cubs.
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scratt
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2006-03-24, 13:00

Quote:
Originally Posted by DMBand0026
He's buying the Chicago Cubs.
What program did they do that they want for OS X?
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Foj
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2006-03-24, 22:35

Quote:
Originally Posted by scratt
What program did they do that they want for OS X?
OS 1908
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