Apple CEO Steve Jobs exercises options

August 16, 2007, 7:37 AM UTC
Fortune

Apple (AAPL) CEO Steve Jobs this week exercised options to buy 120,000 shares of the company’s stock for $5.75 each, according to a regulatory filing.

If Jobs were to sell the stock today, with Apple shares trading at around $115 per share, he would make a paper profit of about $13 million.

Jobs got the shares 10 years ago, under a plan for the company’s directors.