Apple's Phil Schiller sells $18.6M in AAPL stock, SVP Dan Riccio sells $1.9MApple senior vice presidents Phil Schiller and Dan Riccio sold company stock worth over $20.4 million this week, with Schiller's sale accounting for nearly $18.6 million, according to a filing with the U.S. Securities and Exchange Commission.
The SEC filings note Apple SVP of Worldwide Marketing Schiller executed a trade on Wednesday worth $18.59 million, while SVP of Hardware Engineering Riccio let go of $1.88 million in AAPL stock that same day.
Schiller sold 37,172 common stock shares at a price of $500. Riccio disposed of 3,754 shares in a total of 11 trades ranging in price from $498 to $502, each reflecting the weighted average sale price.
The trades on Wednesday come a little over two weeks after Apple board members Millard Drexler and William Campbell sold off over $19 million in AAPL stock last month.
On Topic: Investor
- Piper Jaffray sees 'Apple Car' as longterm project with potential short-term effect on stock
- Apple stock should return to $130 by end of 2015, says Brean Capital
- Wells Fargo upgrades Apple stock to 'outperform,' says recent correction is an overreaction
- Apple CEO Tim Cook could face SEC scrutiny for violating fair disclosure regulation
- Tim Cook refutes China worries, calls Apple's growth 'strong' in rare mid-quarter update