Mikey Campbell
Apple SVP of Internet Software and Services Eddy Cue on Thursday earned sold 335,000 common stock AAPL shares to net himself payday worth $37,473,100.
According to a filing with the Securities and Exchange Commission, Cue unloaded the personal shares in multiple transactions ranging in price from $111.53 to $112.30, equating to a weighted average of $111.86 per share. Following the sale, Cue was left with 1,464 shares of Apple stock held by his trust.
This week's selloff comes after Cue saw 525,000 restricted stock units vest into common stock in September. At the time, the award was worth $59.2 million. Apple withheld 256,305 shares to satisfy statutory tax requirements, leaving Cue with 268,695 shares that were subsequently transferred to a family trust.
In related news, SVP of Hardware Engineering Dan Riccio also unloaded a portion of his stock hoard on Thursday, selling 33,323 shares in multiple transactions to net $3.7 million.
Cue and Riccio were among a set of executives that saw 87,578 RSUs worth nearly $10 million vest in October.
The pair will have the chance to replenish their respective stock awards over the next few years, as Apple recently meted out bonuses to its executive team. The package includes 149,667 RSUs scheduled to vest through 2021 — some at a 200 percent conversion rate — based on tenure and performance metrics.
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50 Comments
Now he needs to leave. He's had his day in the sun and so many poor decisions have been made under his stewardship. Get some new people in there who can move the needle on Apple Music, Maps and more!
He sold ALL of his stock aside from 1000 or so shares? Am I reading that right?
Rats, sinking ship anyone? ;-)
Cash is a useful thing.