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March 26, 2008, 9:35 am

Al Gore gets 10,000 Apple options

al-gore.jpgFormer 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.

Way to go Mr. Ozone And more Power TO you.

Posted By Henry R. Williams Franklin NC. : April 1, 2008 4:19 pm

Having Al Gore on the board is useful because Al Gore is tuned in to the ‘environmental movement’ and whether we agree with the ‘greenies’ or not we have to acknowledge their clout, some industries have been hurt (some very badly) by protests and complaints. A minor example for Apple is last years Greenpeace ‘bromide in iPhone’ attack on Apple.

‘Greenie attacks’ can cost companies hundreds of millions of dollars in direct sale loses, legal fees and PR costs. The Green Movement is powerful with political connections and millions of dollars in resources (and an unfortunate fanatic fringe). Having Al Gore who is so in tuned with all this on board gives Apple a heads up on these issues plus a public PR front for Apple’s ‘Green’ standards. Apple is usually shrewd in picking its board like Schmidt CEO of Google and recently Jung from Avon with her China (big market) connections.

Posted By Dave. Victoria. BC. : March 26, 2008 12:52 pm

Scott–

Steve loves Al Gore. Why does he have to add value? He’s an awesome guy. No other reason needed. how does Steve Woz add value? He’s still being paid by Apple.

Posted By Jeremy - Eugene, OR : March 26, 2008 12:40 pm

Why is anyone famous or influential on a board? Because even Al Gore, (who seems to illicit a lot of sour-grapes reactions from posters here) is good for the company because of his contacts, influence, and stature, which, by the way, is pretty darn good as an ex VP of the US, a Nobel prize-winner, an Oscar winner, and very nearly the president of the US (or actually was, depending on who is counting :).

According to the Gore-bashers, if you DARE talk about the elephant in the living room (they protesteth too much), you better be an “eco-saint”. Not a well-reasoned argument - doesn’t wash.

As for options being given below the current market. Well, duh. That’s the common practice for most corporations to reward officers and board members, which if you’re SHOCKED about this, shows how little you understand how business in the US works.

Posted By Bill -, Tallahassee, FL : March 26, 2008 12:36 pm

Gumby,

If by too cheap you mean poor then yes, they’re cheap. They’re too worried about trying to keep warm during the winter instead being eco-friendly with propane.

You probably drive a Prius don’t you. Guess what Gumby, if you do drive a Prius, I hate to tell you but my motorcycle is more fuel efficient. My god indeed.

Posted By Rich Oakton, VA : March 26, 2008 11:58 am

WTF value does Al Gore add to Apple, or anything else for the matter? Jobs is brilliant right down to his choice of shade of blue for Mac screens, but this is LAME. Honestly, someone please enlighten me as to how A.G. creates one dollar of real value for Apple.

Posted By Scott- Sonora, CA : March 26, 2008 11:32 am

Anyone who preach the horrors of global warming yet go home and stacking up firewood by cords and cords is summarily discredited by me!! at once! Dismissed!! Firewood is the dirtest greenwashed fuel known to mankind!!! Firewood is not cool anymore!!! They are too close to my home for my own health… There is millions and millions of cords of firewood scattering especially in the hinterlands where it is cold and people are too cheap to buy clean propane for heating and cooking… My god!!

Posted By Gumby, Antioch, CA : March 26, 2008 11:16 am

you gore haters are just funny. it’s apple’s and google’s decision to bring him on board for whatever reason they see fit and it’s their money they throw at him not mine or yours. Regardless of any influence (if any) by having him on board, both companies are doing extremely well??

Posted By noslen, boston ma : March 26, 2008 11:16 am

It is different but it is the same cheat. Backdated ones show a transfer date in the past when the price was low, Gore’s show a current date but the price is low anyway.

Posted By George, Plymouth, MA : March 26, 2008 10:53 am

Gore is on the Apple board for the same reason Colin Powell was on Beechcraft’s board, along with Donald Rumsfeld, back in the 1990’s.

Posted By Jim B, Las Vegas, NV : March 26, 2008 10:52 am

Gore offers a lot to the board
first thing that comes to mind is incredible leverage and connections with the political world.
I gave full confidence and as long that the company continue to perform like this I see no reason to complain

Posted By barbaian : March 26, 2008 10:39 am

I still have no idea why Al Gore is on the Apple board of directors. Back when I owned the stock long-term I voted no confidence in him every year. The only possible reason to have him join would be to make the company “greener” (which is surprising since Steve Jobs is, well, a hippie), and since he’s join the company still has no adopted a recycling program and only very recently the company has reduced the amount of hazardous materials in its computers.

Posted By Tony - Dover, NH : March 26, 2008 10:25 am

so, other than lending his name to these corporations, and be more wasteful than most Americans, what exactly does this Gore person do? Did anyone actually sat down and calculated this guy’s true value and worthiness? what does he bring to the table other than an extra large seat? why should corporations suh as Google and Apple continue to waste their hard earned money on people such as Al Gore?

Posted By AW, New York City, NY : March 26, 2008 10:18 am

How is this different than backdating options?

ex ped: Gore’s options were not backdated. $129.67 a share was Apple’s closing price on March 19, when the strike price was set.

Posted By Anonymous : March 26, 2008 10:17 am
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Philip Elmer-DeWittSilicon Valley veterans like to joke that Steve Jobs must be surrounded by a reality distortion field; if you get too close to him, you start to believe what he's saying. Thanks to the success of the iPod, the launch of the iPhone and the renewed interest in the Mac, Apple has made believers out of millions of customers - and made a lot of investors rich. But Philip Elmer-DeWitt believes that an ounce of skepticism never hurts when writing about the company. He should know. He's been covering Apple - and watching Steve Jobs operate - since 1982, first for Time Magazine, then for Business 2.0, and now for Fortune.
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