Apple CFO Peter Oppenheimer Sells $16.4 Million in AAPL Stock

Friday July 26, 2013 10:44 AM PDT by Jordan Golson
Peter OppenheimerApple CFO Peter Oppenheimer sold 37,172 shares of Apple stock on Wednesday as part of a SEC Rule 10b5-1 scheduled trading plan implemented in November of 2011. The sale was disclosed in a filing with the SEC.

The sale took place the day after Apple's July earnings announcement, a profitable choice for Oppenheimer as Apple's stock jumped from $420/share to $440/share following the earnings release. The sale was executed at an average share price of $440.31.

The shares were acquired by Oppenheimer in June as part of a bonus award originally granted in November 2011.

Oppenheimer remains in possession of 4,834 shares currently worth $2.1 million. As of earlier this year, Apple executives -- other than Tim Cook -- are required to hold three times their annual base salary in Apple stock. Oppenheimer's base pay is $800,000 per year, meaning he would be required to hold $2.4 million in stock, though because of variances in Apple's stock price, Oppenheimer is likely still complying with the new requirements.

The transaction was made in accordance with SEC Rule 10b5-1, which means the executive notified the SEC of a plan to sell shares months ahead of the sale to avoid any accusations of insider trading.

Tag: Peter Oppenheimer
45 comments


Top Rated Comments

(View all)
Avatar
Shrink
75 months ago
I'm sure I'm missing something, but what does any of the discussion thus far have to do with Oppenheimer selling stock?
Rating: 9 Votes
Avatar
Szarky
75 months ago

I got to meet and speak personally with Mr. Oppenheimer while attending Cal Poly. Really enjoyed getting to speak with him. His presentation was much more entertaining than Tim Cook giving a keynote.


Interesting.

Tim Cook isn't much of a presenter, I don't want to go as far as saying "his passion is lacking for the products" but there's definitely something off. He just doesn't have "it".
Rating: 3 Votes
Avatar
needfx
75 months ago

I got to meet and speak personally with Mr. Oppenheimer while attending Cal Poly. Really enjoyed getting to speak with him. His presentation was much more entertaining than Tim Cook giving a keynote.


Interesting.

Tim Cook isn't much of a presenter, I don't want to go as far as saying "his passion is lacking for the products" but there's definitely something off. He just doesn't have "it".


You have to hand it to Tim thaqt he was much better in the last keynote.

Significant changes in rhythm & accent are more than evident.

He must have been seriously coached.
Rating: 3 Votes
Avatar
GenesisST
75 months ago

Wonder what his doing with all that cash??

buying a spot on the space shuttle?


If he has a trophy wife, those are expensive!
Rating: 3 Votes
Avatar
jonAppleSeed
75 months ago
K, let me start this off right

OMG Apple is DOOMED! The rats are abandoning the sinking ship.
Rating: 2 Votes
Avatar
macs4nw
75 months ago

If he has a trophy wife, those are expensive!


Firsthand knowledge? lol

On a serious note, I know it shouldn't, but when these top execs at APPLE sell-off large quantities of their stock portfolio, it always somehow undermines my confidence somewhat, in APPLE as a company. They're probably just only cashing out what they're allowed, as it matures, but nevertheless.

There's always that nagging feeling, they know something we don't.
Rating: 2 Votes
Avatar
appleisking
75 months ago

I'm sure I'm missing something, but what does any of the discussion thus far have to do with Oppenheimer selling stock?


What's to discuss about that? He sold some stock, got some money, will reinvest it elsewhere like everyone else does... Articles like these, which tbh shouldn't even be on here since it's neither a rumor nor does it have anything to do with Apple products, should close the comments.
Rating: 2 Votes
Avatar
SusanK
75 months ago

He was actually running the company during Steve's long absences, and probably even more than we knew during his illness. Much of Apple's success in recent years is due to Cook's "bean counting" as COO. Is he the Sultan of Personal Cool like Steve was? No. Is he a great salesman like Steve was? No. But Steve Jobs was one of a kind, so it isn't exactly a useful comparison.


Cook was an excellent lieutenant. He is not much of a general.
Rating: 1 Votes
Avatar
thekev
75 months ago

Cook was an excellent lieutenant. He is not much of a general.


I agree with Susan. I don't have anything against Cook, but he is not an entrepreneur - and definitely comes off as a bean-counter type.


Both of you have weird notions of CEO job duties. Product design and engineering do not originate there.
Rating: 1 Votes
Avatar
SusanK
75 months ago

He's been the de facto general for a lot longer than you seem to realize.

I'm not 100% sold on Cook, but then I wasn't 100% sold on Jobs either. One way or another, I'm not interested in overlooking Jobs' faults just so we can compare Cook unfavorably to Jobs.



My original comment that you quoted was about my equity position in AAPL. I am not comfortable with Cook. My stock, my call. You are free to buy, sell or hold with your funds.
Rating: 1 Votes
[ Read All Comments ]