Stock Sale by Apple Founder
The New York Times
San Francisco -- August 2, 1985 -- Steven P. Jobs, the co-founder and chairman of Apple Computer Inc., is selling about one-eighth of his Apple holdings, raising further questions about his future with the company.
In filings with the Securities and Exchange Commission last week, Mr. Jobs said he planned to sell 850,000 shares for about $14 million. Even after the sale, Mr. Jobs would remain the largest holder in Apple with 6 million shares, or 9.7 percent of the total outstanding.
Mr. Jobs lost a power struggle and was removed from his operating position as head of Apple's Macintosh computer division in May. At an analysts meeting last week, Apple's president, John Sculley, who won the power struggle, made it clear that Mr. Jobs would have no operating responsibilities, ''now or in the future.''
It is unclear what Mr. Jobs's plans are, and he did not return phone calls.
Copyright 1985 The New York Times Company