Christmas came a bit early this year for two Apple executives who cashed in some of their high-flying Apple stock options for a combined $55 million payday in October. Retail head Ron Johnson came away with more than $44 million while Mac hardware chief Bob Mansfield raked in $10 million, according to papers filed with the Securities and Exchange Commission.
Johnson, a former Target executive Apple brought in in 2000 to lead its then minor retail business, is known for developing 317 retail locations and pushing the idea of a “Genius Bar” at Apple Stores. He exercised 150,000 $11.73 options, selling them for $306.07 per share for $44.151 million before taxes. Almost three years ago, Johnson exercised 700,000 options at $23.72 each, selling them at $185 to $185.21 per share for $113 million. Additionally, earlier this year, Johnson sold 200,000 options for about $46 million.