Apple execs in 'sell, sell, sell' orgy

NEWS Several senior Apple executives have filed to sell large stakes in the company this month to make the most of their employer's buoyant share price. Around $25m of stock sale requests have been filed with the Securities and Exchange Commission during May. The filings represent around one million shares, which is 0.29 per cent of the company's 366 million diluted shares. Fred Anderson, Apple's chief financial officer, filed to sell around $6m worth of shares yesterday. Timothy Cook, executive VP of worldwide sales, intends to sell $8.3m worth. Sina Tamaddon, senior VP for applications, is to cash in around $6.1m and Nancy Heinen, senior VP and general counsel, could end up $4.8m better off. New designs, an upgrade to its operating system and a new chain of shops have pushed Apple shares to their highest price since September 2000. In September 2000, the company announced a profits warning that slashed its stock price in half to about $25 in one day.