Apple Senior Vice Presidents Phil Schiller and Dan Riccio Sell Stock Worth Over $20 Million

Friday August 16, 2013 6:53 PM PDT by Husain Sumra
phil_schiller Apple senior vice presidents Phil Schiller and Dan Riccio recently exercised and sold more than 40,000 combined common stock shares worth over $20 million, according to documents filed today with the SEC.

Schiller sold 37,172 shares of common stock at a price of $500 for a total haul of $18.6 million. Riccio sold a total of 3,754 shares of common stock over the course of 11 trades with prices ranging from $498.75 to $502.40 for a total of around $1.9 million.

Last November Schiller was one of the Apple executives that was awarded 150,000 RSUs as an incentive to remain employed at Apple. Half of those shares vested on June 21, 2013 while the other half will vest on March 21, 2016. In addition to those 75,000 shares vesting in 2016, Schiller has thousands of shares of stock remaining.

The moves to sell come two weeks after Apple directors Bill Campbell and Millard Drexler sold their stock options, three weeks after CFO Peter Oppenheimer sold his stock and almost two months after Apple SVPs Jeff Williams and Bruce Sewell cashed in on their stock.

Tags: Phil Schiller, Dan Riccio
58 comments

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mbh
85 months ago

ship is sinking?


Nope. Big-time insiders have to schedule sales like this ahead of time in order to avoid breaking insider trading laws. These guys get so many options they need to sell some in order to cover the taxes on the awards (or something like that; I'm not an accountant.) This happens all the time when AAPL is low, high, and medium.

It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
Rating: 17 Votes
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darkslide29
85 months ago
Well deserved. "Can't innovate anymore my ass!" Was a million dollar quote. :)
Rating: 8 Votes
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Mackan
85 months ago


It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.


No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
Rating: 7 Votes
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mbh
85 months ago

No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.


And yet you not only read this story, but commented on it. :rolleyes:
Rating: 6 Votes
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ArtOfWarfare
85 months ago

No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.


God damn investors believing in startups and funding them. Why can't we live in a world where only government approved projects are funded?
Rating: 4 Votes
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clibinarius
85 months ago

Why the spring? Didn't gold just go up this week? And now we have a potential gold-plated iPhone 5S? And the market is like anything else... what goes up, must and will come down. A solid commodity that has retained value throughout history seems like a good investment. The dollar is worth... what? Nothing? But gold will always have value. Who knows why they cashed out!? And who knows if they're flipping their dollars to gold!? I certainly don't. But I applaud them for the work and innovation they've given us the past decade, and like a previous post said, its well deserved.


For most of human history, salt has been more valuable by weight than gold, as well as incense, and silver was worth about 10% of gold if not more.

In fact, gold is probably the only ancient commodity to maintain value. Why is this? Good question. When Bill Dudley was asked about inflation, he said there is no inflation because the iPad 2 is twice as far as the iPad for the same price, to which he was promptly informed that "I can't eat an iPad."

You can't eat gold. You can't turn gold into energy. It just sits there and looks pretty. It only has value because it once had value, and isn't mass produced. It may go up, it may go down, but it is just another rock.
Rating: 3 Votes
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Bubba Satori
85 months ago
"An army of new products." Tim Cook

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This guy should be payed ten times more !
He's so cool
He should get all the money in the universe together with all AAPL execs !


This is either very funny or very scary.
Rating: 2 Votes
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IJ Reilly
85 months ago
Clever? Not.
Rating: 2 Votes
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JM-Prod
85 months ago
ship is sinking?
Rating: 2 Votes
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Pigumon
85 months ago

So Eric Schmidt is in an "open" marriage and is dating two women on the side? Clearly the guy has no personal morals in addition to having no business ethics. And people still trust Googal with their personal information?


That would explain the "no doorman" and the mattress on the floor in the middle of his living room. :eek:
Rating: 1 Votes
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