eddy cue headshotApple Senior Vice President of Internet Software and Services Eddy Cue has decided to sell off 15,000 shares of his stock for about $8.8 million, according to a recent regulatory filing. He sold off his Apple stock for about $583.99 a share.

The stock that Cue cashed in is not part of the 100,000 restricted stock units (RSUs) he received in September 2011 as a promotion bonus. Half of those shares vest on August 24, 2013 while the other half vest on August 24, 2015 if Cue is still with the company.

Today's regulatory filing reveals that Cue still has 285 shares of Apple stock remaining, but The Next Web notes that next year those shares will be bundled in with the 50,000 coming from the first batch of last year's promotion bonus RSUs. Cue has received 76,250 RSUs over the past five years.

Last September, Cue was elevated to the senior management team, and he was recently put in charge of both Siri and Maps. He was also added to Ferrari's Board of Directors.

Cue cashing in does not necessarily mean that he is less invested in Apple. Senior Vice President of Technologies Bob Mansfield, Cue and other Apple executives may be looking to unload stock in 2012 as capital gains tax increases are scheduled in 2013. By selling now rather than in 2013, sellers can reduce their tax burden, and all of the senior executives are in line to receive substantial stock awards if they continue working at the company.

Top Rated Comments

Eric E. Schmidt Avatar
116 months ago
eddie and bob (https://forums.macrumors.com/showthread.php?t=1499016) trying to outdo each other xmas shopping this year?

wonder what they'll get me.
Score: 8 Votes (Like | Disagree)
Mak47 Avatar
116 months ago
I think they're protecting their investment before it's stocks fall. Two times is a big coincidence.

There's nothing coincidental about it. After this year capital gains and numerous other taxes are set to skyrocket in the US. It's only sensible that these guys would sell now.

Mansfield is only a few years away from actual retirement. Cue's been at Apple a very long time as well. If they cash out now, they can do what they want with the money, if they wait, they'll have to hand a bunch of it over the the IRS.
Score: 6 Votes (Like | Disagree)
TheMacBookPro Avatar
116 months ago
Time for some new Ferraris!
Score: 5 Votes (Like | Disagree)
MacDav Avatar
116 months ago
I think they're protecting their investment before it's stocks fall. Two times is a big coincidence.

Wrong... Capital gains tax goes from 15% to 20% Jan 1st 2013. Although, with everybody cashing in before the end of the year Apples stock price probably will fall, but then rise again in January. If it rises 5% then the price is on par with today's value. ;)
Score: 4 Votes (Like | Disagree)
ixodes Avatar
116 months ago
It's good to witness the choices & timing of these sell offs. Proves that Apples top execs are paying attention. They know the hammers about to fall & they're getting out of the way. Smart men.
Score: 4 Votes (Like | Disagree)
thekev Avatar
116 months ago
It may be smart in the short term, maybe not smart in the long term. If they're selling just to avoid a 5% capital gains tax increase, they're going to "lose" money if Apple stock goes up by an amount more than what it would take to cover the difference, which is not much. Of course, it's wiser to cash in and secure your family (especially if you have boatloads more shares on the way) than to potentially be left with nothing if a catastrophe happens. I'd probably do the same if I were in their position, however I am holding onto my AAPL because I think eventually it's going to go up more than any capital gains increase will take away.

They could also be rebalancing their portfolios at this time.
Score: 2 Votes (Like | Disagree)

Related Stories

studio buds family

Beats Studio Buds Debuting Today With Active Noise Cancellation, Stemless Design, and More for $150

Monday June 14, 2021 8:00 am PDT by
We've seen a lot of teasers about the Beats Studio Buds over the past month since they first showed up in Apple's beta software updates, and today they're finally official. The Beats Studio Buds are available to order today in red, white, and black ahead of a June 24 ship date, and they're priced at $149.99. The Studio Buds are the first Beats-branded earbuds to truly compete with AirPods...
YouTube Picture in Picture Feature

YouTube Premium Subscribers Can Now Use iOS Picture-in-Picture: Here's How

Wednesday August 25, 2021 3:55 am PDT by
Google has rolled out picture-in-picture support as an "experimental" feature for YouTube premium subscribers, allowing them to watch video in a small window when the app is closed. If you're a premium YouTube subscriber looking to try out picture-in-picture, follow these steps: Launch a web browser and sign into your YouTube account at YouTube.com. Navigate to www.youtube.com/new. Scroll...
gradiente iphone white

Brazilian Electronics Company Revives Long-Running iPhone Trademark Dispute

Tuesday May 19, 2020 1:06 pm PDT by
Apple has been involved in a long-running iPhone trademark dispute in Brazil, which was revived today by IGB Electronica, a Brazilian consumer electronics company that originally registered the "iPhone" name in 2000. IGB Electronica fought a multi-year battle with Apple in an attempt to get exclusive rights to the "iPhone" trademark, but ultimately lost, and now the case has been brought to...
youtube apple tv

YouTube Discontinuing 3rd-Generation Apple TV App, AirPlay Still Available

Wednesday February 3, 2021 3:09 pm PST by
YouTube is planning to stop supporting its YouTube app on the third-generation Apple TV models, where YouTube has long been available as a channel option. A 9to5Mac reader received a message about the upcoming app discontinuation, which is set to take place in March.Starting early March, the YouTube app will no longer be available on Apple TV (3rd generation). You can still watch YouTube on...
ryanscoolios13thumbnail

Apple Releases iOS 13.1.3 With Bug Fixes for Phone, Mail, Health, and More

Tuesday October 15, 2019 10:09 am PDT by
Apple today released iOS 13.1.3 and iPadOS 13.1.3, minor updates to the iOS 13.1.2 software that was released two weeks ago. This is the fourth update to the iOS 13 operating system that came out in September. The iOS and iPadOS 13.1.3 updates are available on all eligible devices over-the-air in the Settings app. To access the updates, go to Settings > General > Software Update....
bluetti eb70 main

MacRumors Giveaway: Win a Bluetti EB70 Portable Power Station and 200W Solar Panel

Friday September 3, 2021 11:13 am PDT by
For this week's giveaway, we've teamed up with MAXOAK to offer MacRumors readers a chance to win a Bluetti portable power station and an accompanying solar panel. Bluetti makes a range of portable power station options that are useful for camping, emergencies, power outages, off-grid living, and similar situations. The Bluetti EB70 is a solid middle of the road option that offers 716Wh and...
M1X MBP Feature

Leaker: Upcoming MacBook Pro to See Price Hike Over Current Model, Equal Performance Across 14 and 16-Inch Sizes

Tuesday August 24, 2021 5:28 am PDT by
The upcoming 14-inch MacBook Pro is set to be more expensive than the current 13-inch MacBook Pro and both the 14 and 16-inch models will offer the same performance, according to the leaker known as "Dylandkt." The leaker shared the information on Twitter, explaining that both of the upcoming MacBook Pro models, expected to come in 14 and 16-inch sizes, will feature the same performance due...
iphone 13 teal with text

Apple Expecting iPhone and iPad Supply Constraints in September Quarter

Tuesday July 27, 2021 2:34 pm PDT by
During today's earnings call covering the third fiscal quarter of 2021 (second calendar quarter), Apple CFO Luca Maesteri said that Apple is expecting supply constraints to affect the iPhone and the iPad in the coming quarter. "The supply constraints that we've seen in the June quarter will be higher in the September quarter," said Maestri. The constraints will impact iPhone and iPad sales...
os x mountain lion macs 16x9 2

Apple Makes OS X Lion and Mountain Lion Free to Download

Wednesday June 30, 2021 12:19 pm PDT by
Apple recently dropped the $19.99 fee for OS X Lion and Mountain Lion, making the older Mac updates free to download, reports Macworld. Apple has kept OS X 10.7 Lion and OS X 10.8 Mountain Lion available for customers who have machines limited to the older software, but until recently, Apple was charging $19.99 to get download codes for the updates. As of last week, these updates no...
maxresdefault

Craig Federighi and Greg Joswiak Discuss iPadOS 15, macOS Monterey, Privacy, Shortcuts on Mac, and More

Saturday June 12, 2021 6:12 am PDT by
As is tradition, Apple executives Craig Federighi and Greg Joswiak joined Daring Fireball's John Gruber in an episode of The Talk Show to discuss several announcements that Apple made over this weeks WWDC, including iPadOS 15, macOS Monterey, and a large focus around privacy. Federighi kicks off the conversation discussing the common architecture, now thanks to Apple silicon, across all of...