Apple CEO Steve Jobs Uses Almost Half His Vested Shares to Pay Taxes

SAN JOSE, Calif. (AP) -- Apple Computer Inc. chief executive Steve Jobs used almost half of his 10 million restricted shares that vested this month to pay for applicable taxes, according to a regulatory filing.
In a filing with the Securities and Exchange Commission last week, Apple said it withheld more than 4.5 million of the top executive's restricted shares, worth $295.7 million at $64.66 a share, to meet the tax obligations on the 10 million in restricted shares the company gave Jobs in March 2003.

Now Jobs is left with 5.4 million of those shares, worth about $323 million at Monday's closing stock price.

Jobs, who is also Apple's chairman, also has 120,000 fully vested options that he received in 1997, under the director stock option plan.

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