Bam! Mickey Drexler Cashes in $24 Million in Apple (AAPL) Stock
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Retail legend Millard "Mickey" Drexler just cashed in in a big way from sitting on the board of market darling Apple (Nasdaq: AAPL).
Drexler, an Apple board member since 2003, sold 40,000 shares of Apple stock on 4/27 at $603.52 after exercising options on the shares at prices of $9.16-$14.205.
The sale was worth an astonishing $24,140,800.
Drexler's options had expiration dates of 05/25/2013 and 05/25/2014. He was granted 20,000 on May 25, 2003 that vested annually over three years and another 20,000 on May 25, 2004 which also vested annually over three years.
Drexler, an Apple board member since 2003, sold 40,000 shares of Apple stock on 4/27 at $603.52 after exercising options on the shares at prices of $9.16-$14.205.
The sale was worth an astonishing $24,140,800.
Drexler's options had expiration dates of 05/25/2013 and 05/25/2014. He was granted 20,000 on May 25, 2003 that vested annually over three years and another 20,000 on May 25, 2004 which also vested annually over three years.
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