Two high-ranking Apple executives have cashed in on lucrative stock options worth a combined total of more than $55 million.
According to AppleInsider, senior Jobs lieutenant Bob Mansfield exercised 40,000 stock options at a strike price of $36.54, offloading them on the open market for $308 a share and netting a tidy profit of $10,858,400 before taxes and fees.
Mansfield joined Club Cupertino in 1999 after the company’s acquisition of Raycer Graphics. In 2008, Mansfield was bumped up to senior VP of Mac Hardware Engineering. He is currently senior VP of Mac and Devices Hardware Engineering.
Meanwhile, Ron Johnson – who successfully conceived and executed Apple’s retail “Genius Bar” – exercised 150,000 options at a strike price of $11.73, selling them off at a weighted average of $306.07 per share and garnering a hefty $44,151,000 in profit before taxes.
It should be noted that Johnson exercised 700,000 options at $23.72 apiece nearly three years ago, generating a whopping profit of nearly $113 million.
Similarly, this past March, Johnson moved 200,000 options, earning approximately $46 million.