Wednesday, March 26, 2008
Al Gore gets 10,000 Apple options
[Originally posted March 26, 2008 on Fortune.com]
Former vice president Al Gore, who sits on Apple's compensation committee and supervised the company's internal investigation of its option backdating case, has been granted options to buy 10,000 shares of Apple (AAPL) at the strike price of $129.67, according to Jonny Evans at Macworld UK.
With Apple shares closing at $140.98 Tuesday night, the options would be worth $113,100 if exercised today. Should Apple reach its 2007 high of 202.96 before the options expire in 10 years, the grant would be worth more than $730,000, not counting taxes.
Gore, who describes himself as a "recovering politician," has won the Nobel Peace Prize and an Academy Award since leaving office. He took a seat on the Apple board in 2003 and co-founded the cable network Current TV in 2004. He also advises Google (GOOG) and venture capital firm Kleiner Perkins Caufield & Byers.
Bloomberg News reports that in January, Gore exercised options to buy 1,000 shares at $7.48, reaping a potential profit of more than $124,000.
[Follow Philip Elmer-DeWitt on Twitter @philiped]