Fortune notes that Apple senior vice president of hardware engineering Bob Mansfield sold off 99% of his Apple stock holdings on Monday, dropping his stake in the company to only 501 shares.
One of the more pro-active traders is Bob Mansfield, Apple's senior vice president in charge of Mac and iPhone hardware engineering. Not only does he exercise his options when the stock is high -- always a good idea -- but he picks up extra shares at the 15% employee discount when the stock is down.
On Monday, according to an SEC Form 4 filed yesterday, he executed his biggest trade yet, selling 38,863 shares of Apple at $351.89 each, clearing $13,675,504.96 in the deal and leaving only 501 shares in his portfolio.
Mansfield still holds vested options for another 30,000 shares and will be granted an additional 100,000 shares in 2014 should he stay with company, meaning that he still has a significant stake in the company even though he has converted almost all of his most liquid Apple assets into cash.
The report notes that Mansfield has sold off nearly $58.5 million worth of Apple stock over the past three years, strategically exercising options and selling off his holdings for solid profits and buying in on stock price dips to maximize his returns. Mansfield has been at Apple since 1999.
Top Rated Comments
You are grossly predicting the reason he is selling. Are you a soothsayer? There are plenty of other reasons to sell that have zero to do with Apple's business prospects or his own at Apple. It could be fear of a cap gain increase in 2012, or the need to get into cash for personal reasons, or a desire to diversify his portfolio or a million other things. This sale tells us only one thing for sure: that he sold a lot of stock.
I suspect the article is just highlighting this pattern with Bob Mansfield so that no one gets the wrong idea.
You used a lot of fun words but you still don't sound too intelligent because you're wrong. It's habit for him, he's a smart trader and profits greatly from his decisions. If you think Apple is about to tank, you have no idea what's going on with the company, and I mean publicy of course. (I'm not trying to act like I know secret plans, [satire] I'm no analyst! [/satire] )
I remember years ago Bill Gates selling lots of Microsoft shares, and some people here predicting doom for Microsoft. And I'll say the same thing as I said back then, just names changed: If Bob Mansfield goes to a store selling Ferraris, and he wants a Ferrari, all the AAPL stock in the world won't get him the car he wants. He has to sell the shares, convert them into cash, hand over the cash to the car dealer, and only then will they let him have the car he wants.
What good is it to him having all the shares if he doesn't sell and spend the money?
Did you read the article?
It's not like he decided to dump all his shares. You can't make money unless you sell your shares.