Cupertino California Stories June 6, 2014

Apple’s retail head Angela Ahrendts has stock withheld for tax purposes (Updated)

SEC filings show that Angela Ahrendts had half of her first allocation of AAPL stock withheld on 1st June – the day it vested, and just one month after joining the company – reports ComputerWorld.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Ahrendts received 16,264 shares in Apple stock when it vested June 1 […]

Ahrendts sold 8,331 shares that same day for a pre-tax total of $5,273,523.

The full value of her stock, which is likely to vest (become eligible for sale) over several years, will add up to $78.5M at the current share price. Her total compensation in her final year as CEO of Burberry was $4.4M – though she did also get a clothing allowance of $42,000 and a car allowance of $30,000 (only at a fashion company could you get more to spend on clothes than a car …).

Selling half your stock at the very first opportunity doesn’t seem to send the best of signals a month into the role, but I guess she needs to buy a house out in the Valley and those aren’t exactly cheap right now.

The withholding of the shares came just over a week before a 7-to-1 stock split, on Monday. The stock split should make AAPL shares more attractive to smaller investors, a shift that could make the share price more volatile.

Via Fortune

Update: These shares were withheld for tax purposes by Apple not sold on the open market

Cupertino California Stories May 13, 2014

Updated: Lunch with Tim Cook charity auction closes at over $330,000 for RFK Center for Justice and Human Rights

Update: The Auction is now closed with the winning bidder donating $330,001 to the RFK Center for Justice and Human Rights

Going once, going twice, almost sold! Just two and a half weeks ago, Charitybuzz kicked off a campaign to raise money for the RFK Center for Justice and Human Rights by offering the opportunity to have lunch with Apple CEO Tim Cook at the company’s campus in Cupertino. The auction’s goal is set at $100,000 – twice that of the previous year’s auction of coffee for two with Mr. Cook – and the clock is about to run out on this year’s chance to dine with the chief executive.

For perspective, last year’s auction for a similar prize (coffee with Cook) and the same charity far exceeded it’s goal of $50,000 raising an astounding $610,000 for the RFK group by the time it ended. This year’s charity auction for lunch with Tim Cook is an absolute bargain in comparison as the latest bid at the time of writing is sitting at only $180,000 with less than five hours before the closing bell…

Cupertino California Stories May 12, 2014

Jimmy Iovine and Dr. Dre Unveil Beats By Dr. Dre 2011 Holiday Product Line-Up

If the Apple acquisition of Beats Electronics actually moves forward, co-founders Dr. Dre and Jimmy Iovine could see their grand introductions as Apple executives at Apple’s Worldwide Developers Conference in early June. That’s at least according to Billboard, which has a great track record in covering the music industry…

expand full story

Cupertino California Stories May 8, 2014

Footprint of Apple’s ‘spaceship’ campus clearly visible in latest aerial photos

Following up on an aerial shot posted last week, AppleToolbox has taken a handful of much clearer photos, showing the progress of Apple’s new campus.

AppleToolbox says it took these images yesterday, so they should reflect the most recent state of the project. The spaceship imprint of the main building can now be clearly seen on the ground. The images also show quite a lot of construction activity is already underway. Images of the excavated plot for the ancillary buildings are also visible, which will be dedicated to research and development facilities.

Apple CFO Peter Oppenheimer was leading the development of the project, but it still unclear who has taken over these responsibilities since he announced his retirement in March.

Apple is currently planning to open the new campus to its employees in roughly two years time.

Cupertino California Stories April 8, 2014

New aerial photos of the site of Apple’s new ‘spaceship’ campus now appear to show that demolition of the existing buildings is complete, with an army of construction vehicles at work preparing the ground for construction …  expand full story

Cupertino California Stories March 5, 2014

The folks over at Apple Toolbox have shared a number of aerial photos capturing the demolition progress of the future site of Apple’s Campus 2 ‘spaceship’. As you can see above, the former site of Hewlett-Packard that Apple purchased in 2010 is leveling out ahead of the expected 2016 completion date. Campus 2 designer Norman Foster discussed the project’s evolution and Steve Jobs’ involvement earlier this week, and late last month we saw a less clear shot of the plot undergoing demolition. Check below for more detailed photos.

expand full story

Powered by WordPress.com VIP