Tuesday, December 04, 2012, 04:37 pm PT (07:37 pm ET)
Eddy Cue latest Apple exec to sell off company sharesA filing with the U.S. Securities and Exchange Commission published on Tuesday reveals that Apple Senior Vice President of Internet Software and Services Eddy Cue let go of 15,000 shares of AAPL stock on Friday in a sale valued at around $8.76 million.
Apple SVP of Internet Software and Services Eddy Cue. | Source: Apple
First spotted by CNet, the SEC filing noted Cue sold the stock at a price of $583.99 per share, and held only 285 shares after the selloff.
Cue was recently tasked with taking over extra duties left behind by outgoing iOS Chief Scott Forstall, who was ousted from Apple in late October. Among the executive's new responsibilities is iOS Maps, the much bemoaned app introduced with iOS 6 in September.
According to a report last week, Cue is "racing" to improve the app after critics and consumers panned the service for being largely incomplete and fraught with problems.
Also under Cue's purview is Siri, Apple virtual assistant that ships with many devices in the company's mobile products lineup.
The executive still has a bulk of 200,000 restricted stock units from 2011, half coming from his promotion in September and half being part of a bonus he received in November. The first of the restricted units are set to vest in August 2013, while the remainder will see staggered vestments through September 2016, granted Cue stays with the company.
Cue's stock move comes just days after SVP of Technologies Bob Mansfield sold 35,000 AAPL shares worth some $20.38 million.
On Topic: General
- Apple CEO Tim Cook visits Foxconn iPhone factory on China 'road trip'
- Apple to drop SSL 3.0 support for push notifications on Oct. 29 due to POODLE vulnerability
- Rare working Apple I goes for record-smashing $905,000 at auction
- Apple avoids $94M patent infringement suit leveled by patent troll GPNE
- Leak suggests new Fitbit Surge smartwatch will best Apple Watch by integrating GPS