Three Apple executives sold millions of dollars in Apple shares after restricted stock units awarded in 2008 vested. The three executives were Apple CEO Tim Cook, Apple CFO Peter Oppenheimer, and marketing chief Phil Schiller. The sales were disclosed in mandatory SEC filings.

aaplstockgrowth
- Tim Cook sold 106,640 shares at an average price of $600.79/share, after having 93,360 shares withheld for tax purposes. He netted $64 million.

- Peter Oppenheimer sold 80,147 shares at an average price of just under $599/share, after having 69,853 shares withheld for tax purposes. He netted just under $48 million.

- Phil Schiller sold 64,151 shares at an average price of $602.66/share, after having 55,849 shares withheld for tax purposes. He netted $38.66 million.

A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Instead, it's meant as an enticement for senior management to stay with the company. The shares in question were originally awarded in September of 2008, likely as part of an annual bonus. When they vested on March 24 of this year, each RSU was converted to a single share of AAPL stock.

The executives used a Rule 10b5-1 trading plan to manage the sales of the shares. The regulation allows executives with insider knowledge of the company to control the purchase or sale of stock ahead of time so as to avoid any accusation of insider trading.

Apple executives Bob Mansfield and Scott Forstall also had large RSU awards vest this month, but their shares weren't sold immediately.

Top Rated Comments

jlgolson Avatar
161 months ago
"Raghghghghg 1%."

"That's more money than anyone needs in a lifetime, they should give it all to charity."

"Think of the poor Chinese workers at Foxconn!"

"They worked hard for their money and they have created a lot of value for the shareholders."

"Who are we to criticize others for their success?"

"They'll pay a huge amount of money in taxes, so we all get something from their success."

Did I cover all the bases?
Score: 16 Votes (Like | Disagree)
elmo151 Avatar
161 months ago
"Raghghghghg 1%."



Did I cover all the bases?

missed the big one. They earned it and and added to the net worth of millions of shareholders and employees.
Score: 9 Votes (Like | Disagree)
noodlelegs Avatar
161 months ago
I think they can live comfortably now even with the high gas prices.
Score: 6 Votes (Like | Disagree)
rdowns Avatar
161 months ago


What will happen afterwards is what should concern us. Is the management style changing after this? Focus on enjoying the well earned money and other people will take over? Slacking becomes Apple's internal doom?


Where do people get this stuff?
Score: 5 Votes (Like | Disagree)
jlgolson Avatar
161 months ago
What people? What stuff?

The Apple executives got their money by selling their shares.

My comments come from McGiord's mind.
They own many, many more shares that they haven't yet sold, and plenty of Apple execs have sold shares before this. It isn't the first time someone has cashed in.

That said, there's nothing wrong with diversification.
Score: 4 Votes (Like | Disagree)
dwman Avatar
161 months ago
I'll admit I don't understand the stock market, but why doesn't selling this many shares cause the stock price to bomb, when selling only 100 shares causes it to drop 9% (https://www.macrumors.com/2012/03/23/apple-stock-trading-halted-briefly-on-sudden-9-drop/)?

I think that had more to do with a glitch then the actual sale of shares.
Score: 3 Votes (Like | Disagree)

Popular Stories

iPhone 15 Pro Cameras

iPhone 17 Pro Max Will Be First Model to Feature Three 48MP Cameras

Thursday July 11, 2024 12:20 am PDT by
Next year's iPhone 17 Pro Max will feature an upgraded 48-megapixel Tetraprism camera for enhanced photo quality and zoom functionality, according to Apple analyst Ming-Chi Kuo. In his n-iphone-tetraprism-upgrade-ca62dd37e364">latest investor note published to Medium, Kuo said the key specification change would be a 1/2.6" 48MP CIS sensor, up from the 1/3.1" 12MP sensor expected to be used...
Beyond iPhone 13 Better Blue Face ID Single Camera Hole

10 Reasons to Wait for Next Year's iPhone 17

Monday July 8, 2024 5:00 am PDT by
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we sometimes get rumored feature leaks so far ahead of launch. The iPhone 17 series is no different – already we have some idea of what to expect from Apple's 2025 smartphone lineup. If you plan to skip...
maxresdefault

Apple's AirPods Pro 2 vs. Samsung's Galaxy Buds3 Pro

Saturday July 13, 2024 8:00 am PDT by
Samsung this week introduced its latest earbuds, the Galaxy Buds3 Pro, which look quite a bit like Apple's AirPods Pro 2. Given the similarities, we thought we'd compare Samsung's new earbuds to the AirPods Pro. Subscribe to the MacRumors YouTube channel for more videos. Design wise, you could potentially mistake Samsung's Galaxy Buds3 Pro for the AirPods Pro. The Buds3 Pro have the same...
primeday2020 feature3

The Best Early Prime Day Deals on Apple Products

Saturday July 13, 2024 6:23 am PDT by
Amazon is soon to be back with its annual summertime Prime Day event, lasting for just two days from July 16-17. As it does every year, Prime Day offers shoppers a huge selection of deals across Amazon's storefront, and there are already many deals you can get on sale ahead of the event. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a purchase, we may...