A handful of Apple executives and officers recently combined to donate more than $3 million worth of company shares to charitable causes.
According regulatory filings with the Securities and Exchange Commission (1, 2, 3, 4), two members of Apple's executive team, as well as two of its directors, teamed up to donate nearly 10,000 shares of Apple stock between December 10th and 17th. At their current valuation, those shares are valued at roughly $3.2 million.
The most generous was Apple board member and J. Crew chief executive Millard Drexler, who gave away 6,800 shares on December 14th worth $2.17 million. Apple's Senior Vice President of Mac Hardware Engineering Bob Mansfield had four days earlier gifted 1,562 of his shares, worth just over half a million.
Also making donations were Apple chief financial officer Peter Oppenheimer and Apple board member Arthur D. Levinson, who on December 17th gave 1,320 and 277 of their shares, worth approximately $423,000 and $89,000, respectively.
None of the filings specify the recipient of the gifts, stating only that the transactions "represent a charitable donation."
Information retrieved from: http://www.appleinsider.com
(C) 2010 Katie Marsal
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