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Eddy Cue latest Apple exec to sell off company shares

post #1 of 61
Thread Starter 
A filing with the U.S. Securities and Exchange Commission published on Tuesday reveals that Apple Senior Vice President of Internet Software and Services Eddy Cue let go of 15,000 shares of AAPL stock on Friday in a sale valued at around $8.76 million.

Eddy Cue
Apple SVP of Internet Software and Services Eddy Cue. | Source: Apple


First spotted by CNet, the SEC filing noted Cue sold the stock at a price of $583.99 per share, and held only 285 shares after the selloff.

Cue was recently tasked with taking over extra duties left behind by outgoing iOS Chief Scott Forstall, who was ousted from Apple in late October. Among the executive's new responsibilities is iOS Maps, the much bemoaned app introduced with iOS 6 in September.

According to a report last week, Cue is "racing" to improve the app after critics and consumers panned the service for being largely incomplete and fraught with problems.

Also under Cue's purview is Siri, Apple virtual assistant that ships with many devices in the company's mobile products lineup.

The executive still has a bulk of 200,000 restricted stock units from 2011, half coming from his promotion in September and half being part of a bonus he received in November. The first of the restricted units are set to vest in August 2013, while the remainder will see staggered vestments through September 2016, granted Cue stays with the company.

Cue's stock move comes just days after SVP of Technologies Bob Mansfield sold 35,000 AAPL shares worth some $20.38 million.
post #2 of 61

Now they're firing Eddy. Great.

 

Originally Posted by AppleInsider View Post
...Eddy Cue let go…
 

The article even says so.

 

"But you just took four words out of context…"

JOURNALISM!

 

No, seriously, I've nothing against this posting nor the content therein, but since we know these selloffs aren't indicative of anything bad, why not merge all the stories into one article/thread about Apple Executive Stock Selloffs?

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
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post #3 of 61
The reason that the Apple exec's are selling is because after 1/1/2013 the capital gains tax goes up. Really nothing going on here. This is a NON-STORY.
post #4 of 61
So, more of the super rich giving Obama the finger by selling off now before next years tax increases thus denying Regressives, Obama, et el, from pissing away other people's money.

So much for that survey of majority of American's wanting the tax increase. That's easy to accomplish if its not you who is receiving the increase and your money that is being taken from you. Love those class envy Libs that love to stick it to the rich and yet doing so will not improve their lot in life one little bit! Good for Eddy!

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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post #5 of 61
Quote:
Originally Posted by jumper View Post

The reason that the Apple exec's are selling is because after 1/1/2013 the capital gains tax goes up. Really nothing going on here. This is a NON-STORY.

 

Correct. The real story is the cap gains rate increase, which will do nothing but harm businesses. More brilliant moves by the scholars running our government.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #6 of 61
Quote:
Originally Posted by Tallest Skil View Post

Now they're firing Eddy. Great.

 

Wrong. He's jumping ship and selling before the stock price goes though the floor.

 

 

/s

post #7 of 61
Quote:
Originally Posted by Rot'nApple View Post

So, more of the super rich giving Obama the finger by selling off now before next years tax increases thus denying Regressives, Obama, et el, from pissing away other people's money.
So much for that survey of majority of American's wanting the tax increase. That's easy to accomplish if its not you who is receiving the increase and your money that is being taken from you. Love those class envy Libs that love to stick it to the rich and yet doing so will not improve their lot in life one little bit! Good for Eddy!

 

These folks didn't start out "super rich", they became rich through hard work, creativity and intelligence. Increasing taxes does nothing to compensate productive individuals. It harms productivity and creates disincentives for investors and taxpayers.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #8 of 61
Quote:
Originally Posted by Chris_CA View Post

Wrong. He's jumping ship and selling before the stock price goes though the floor.

 

 

/s

 

There are still many reasonable arguments for selling now and the cap gains increase is just one of them. A severe downturn in the economy is not guaranteed to happen, but loose monetary policy, misguided stimulus measures and massive tax increases (not to mention a $16 trillion deficit) are nothing to dismiss out of hand.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #9 of 61

Oh, dear. Is this gonna have to be moved to PO?

 

Not to stifle genuine conversation, whatever the curve, about this article, but if we want to take it political I'll move it over there.

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply
post #10 of 61
Quote:
Originally Posted by SpamSandwich View Post

These folks didn't start out "super rich", they became rich through hard work, creativity and intelligence. Increasing taxes does nothing to compensate productive individuals. It harms productivity and creates disincentives for investors and taxpayers.
Do you really think the folks who earn millions due to their hard work and creativity will stop working hard and be creative if they were taxed higher? If you were earning 10 million per year doing something you loved and were good at and were offered double that to do something less interesting, would you jump ship? May you, or people in general would but it would seem like the most self defeating move ever. Taxing the super rich more will not by any measure make them not super rich. Just a little less so.
Edited by paxman - 12/4/12 at 5:17pm
post #11 of 61
Quote:
Originally Posted by Tallest Skil View Post

Oh, dear. Is this gonna have to be moved to PO?

 

Not to stifle genuine conversation, whatever the curve, about this article, but if we want to take it political I'll move it over there.

 

I suppose we could attempt to limit the conversation to the business reasons for selling shares of a company, but any conversations that involve taxes are inherently political.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #12 of 61
Quote:
Originally Posted by Tallest Skil View Post

Oh, dear. Is this gonna have to be moved to PO?

Not to stifle genuine conversation, whatever the curve, about this article, but if we want to take it political I'll move it over there.

Nah, it's just the entire line-up of SVPs about to be sacked. Apple is domed (yes, only one "o" 1wink.gif).
post #13 of 61
Originally Posted by SpamSandwich View Post
I suppose we could attempt to limit the conversation to the business reasons for selling shares of a company, but any conversations that involve taxes are inherently political.

 

Well, have at it. If it turns all the way to that, I'll just move it over there. Same title, same discussion. No worries.

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply
post #14 of 61
Quote:
Originally Posted by SpamSandwich View Post

Correct. The real story is the cap gains rate increase, which will do nothing but harm businesses. More brilliant moves by the scholars running our government.

What total nonsense. These are just plain ignorant arguments. The reality is that these execs must make carefully planned sales during open windows under SEC rules. They sell usually because of pending tax liabilities on their options, not their capital gains. If you are going attempt to talk intelligently about a subject, first get yourself a good education about the subject.

The reality is that this is a horrible time to be selling Apple stock due to it being severely undervalued and in a trough. The potential increases in taxes pales in comparison to the upcoming stock increases over the next couple of quarters making this whole argument absurd.
Edited by FreeRange - 12/4/12 at 5:45pm
post #15 of 61

All these insider sales are troublesome for me.  If the sales were strictly to recognize a tax gain before the rates go up next year, then I would expect the insiders to purchase shares equal to their sale minus the anticipated tax burden.  Essentially, they should turn around and buy at least 85 shares for every 100 they sold.  There is no waiting period for wash sales when booking a gain.

post #16 of 61
Quote:
Originally Posted by FreeRange View Post


What total nonsense. These are just plain ignorant arguments. The reality is that these execs must make carefully planned sales during open windows under SEC rules. They sell usually because of pending tax liabilities on their options, not their capital gains. If you are going attempt to talk intelligently about a subject, first get yourself a good education about the subject.

 

Then why sell at all? The counter-argument provides no illumination.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #17 of 61
Quote:
Originally Posted by paxman View Post


Do you really think the folks who earn millions due to their hard work and creativity will stop working hard and be creative if they were taxed higher? If you were earning 10 million per year doing something you loved and were good at and were offered double that to do something less interesting, would you jump ship? May you, or people in general would but it would seem like the most self defeating move ever. Taxing the super rich more will not by any measure make them not super rich. Just a little less so.

 

Doing something you love is possibly the prime motivator for these highly compensated individuals, however, punitive taxation and other disincentives has certainly affected many decisions to sell and continues to drive behaviors designed to legally avoid excessive taxes (and not just at Apple).

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Proud AAPL stock owner.

 

GOA

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post #18 of 61
Quote:
Originally Posted by SpamSandwich View Post

These folks didn't start out "super rich", they became rich through hard work, creativity and intelligence. Increasing taxes does nothing to compensate productive individuals. It harms productivity and creates disincentives for investors and taxpayers.

Again, total nonsense. History proves otherwise, especially when looking at the proposed changes for the wealthiest Americans. Are you super rich so you need to worry about it, or just happy your pockets are being picked by the people you are trying to defend? Like individual hedge fund managers taking home hundreds of million dollars in a year while producing absolutely nothing, except market instability and manipulation. And doing so at less than a 15% tax rate. Yes indeed, the sky is falling.
post #19 of 61
Quote:
Originally Posted by FreeRange View Post


Again, total nonsense. History proves otherwise, especially when looking at the proposed changes for the wealthiest Americans. Are you super rich so you need to worry about it, or just happy your pockets are being picked by the people you are trying to defend? Like individual hedge fund managers taking home hundreds of million dollars in a year while producing absolutely nothing, except market instability and manipulation. And doing so at less than a 15% tax rate. Yes indeed, the sky is falling.

 

How in the world are my pockets being picked? How are YOUR pockets being picked?

 

How about when my pockets were picked by the homeowners who took advantage of the loose capital system which led to the economic crash? In that case, both homeowners and politicians who were giving away money for votes were at fault. THERE is a clear example of pickpocketing!

 

You also may as well ask why certain large corporate donors receive bailouts (courtesy of the members of our sitting government), while the vast percentage of taxpayers do not... In each instance, these are wrongs that are indefensible.

 

As to your belief that hedge fund managers are supposedly overcompensated... They are paid what they can negotiate, aren't they? If I could generate a multi-billion dollar profit for my company, I'd demand equitable compensation also.

 


Edited by SpamSandwich - 12/4/12 at 6:02pm

Proud AAPL stock owner.

 

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Proud AAPL stock owner.

 

GOA

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post #20 of 61
Quote:
Originally Posted by Chris_CA View Post

Wrong. He's jumping ship and selling before the stock price goes though the floor.

 

 

/s

 

He knows iOS 7 won't be Android enough, so he's dumping his stock before it all comes crashing down at the feet of victorious Samsung.

 

/s

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #21 of 61
Quote:
Originally Posted by Rot'nApple View Post

So, more of the super rich giving Obama the finger by selling off now before next years tax increases thus denying Regressives, Obama, et el, from pissing away other people's money.
So much for that survey of majority of American's wanting the tax increase. That's easy to accomplish if its not you who is receiving the increase and your money that is being taken from you. Love those class envy Libs that love to stick it to the rich and yet doing so will not improve their lot in life one little bit! Good for Eddy!

 



Poorly written political rants have their own section. Let's keep it there mmmkay..

post #22 of 61
Quote:
Originally Posted by SpamSandwich View Post

How in the world are my pockets being picked? How are YOUR pockets being picked?

How about when my pockets were picked by the homeowners who took advantage of the loose capital system which led to the economic crash? In that case, both homeowners and politicians who were giving away money for votes were at fault. THERE is a clear example of pickpocketing!

You also may as well ask why certain large corporate donors receive bailouts (courtesy of the members of our sitting government), while the vast percentage of taxpayers do not... In each instance, these are wrongs that are indefensible.

As to your belief that hedge fund managers are supposedly overcompensated... They are paid what they can negotiate, aren't they? If I could generate a multi-billion dollar profit for my company, I'd demand equitable compensation also.

 



Time to move this elsewhere mods .... 1oyvey.gif
Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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post #23 of 61

k.

post #24 of 61

Full political discourse here is now fair game. This is in PO. Have at it.

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
Reply
post #25 of 61
TIme for some really great presents for the Cue family I'd say.
post #26 of 61
Quote:
Originally Posted by Tallest Skil View Post

Full political discourse here is now fair game. This is in PO. Have at it.

 

I'm done. 1biggrin.gif

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #27 of 61
Clearly they are all going on a vacation. Obviously Bob likes to have more escorts than Eddie does
post #28 of 61
It is also just plain good financial planning. If you already hold 200,000 shares you have plenty of personal exposure to Apple's stock price as it moves upward.

Politics aside, I don't see what is so controversial about allowing temporary tax reductions to expire? We would certainly not be quite as deep in the can if we hadn't done the reductions for as long as we have. I personally think the best outcome for us all would be for the country to take it's financial medicine and start learning to live within our own means. We did it for over 200 years. Why can't we seem to do it right now?

I am a liberal/middle of the road Democrat who just doesn't see how it can be good to leave my children in more debt than they already have. YVMV.
post #29 of 61

Senior VP's are a dime a dozen.  Talent is not.  A talented person who can apply such gifts, thats priceless.  I think the problem lies in two major areas.  One being money.  When such talented people get that much money, it changes them.  Allot of times for the worst.  Im worth more or my talent is not compensated enough.  Also like allot of major bands like Pink Floyd when you get that much talent together you gonna get a clashing and eventually a falling out.

An Apple man since 1977
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An Apple man since 1977
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post #30 of 61
Spend 15 minutes reading about the history of taxes on wikipedia, then ask yourself, "How closely is human ambition correlated with tax rates?"

If neither of those remedies chances to serve you as a cure, your idiocy is most likely terminal.
post #31 of 61

That bash he threw right after the ousting of Forstall must've cost him a bundle, the bubbly, the expensive cheese and all...

post #32 of 61
Buying a yacht. Good for him. I would.
post #33 of 61

Hey sucker, didn't your tax dollars go to bailing out the banks at a staggering 1 trillion dollars? Lol!!!!!!!!

The rich gave YOU the middle finger, Then they got bailed out by the feds for 16 trillion. That's a whole American style GDP.

Oh by the way we live in a tax based system so you have topay taxes, if no,t who would  pay back the Rothchilds and Queen Elizabeth and some of them oil sheiks in the middle east.

You know, they are on the fed board. Ouch! You didn't know who your fiat currency masters were?

He he!

post #34 of 61

You don't make any sense whatsoever! LOL!

post #35 of 61

Maybe they all know that the 'one more thing' Apple TV - or whatever it is - would rely on deals with content providers and they know the negotiations aren't going as they would have liked.
 

post #36 of 61
Quote:
Originally Posted by jumper View Post

The reason that the Apple exec's are selling is because after 1/1/2013 the capital gains tax goes up. Really nothing going on here. This is a NON-STORY.

 

Beat me to it. Expect to see a lot of stock sell-offs between now and the end of the year, for this very reason alone. I wouldn't say it's a non-story, just not really an AI story. I'm sure the WSJ has a great writeup on the phenomenon, and it's expected impact on the economy.

post #37 of 61
Quote:
Originally Posted by maccherry View Post

Hey sucker, didn't your tax dollars go to bailing out the banks at a staggering 1 trillion dollars? Lol!!!!!!!!

The rich gave YOU the middle finger, Then they got bailed out by the feds for 16 trillion. That's a whole American style GDP.

Oh by the way we live in a tax based system so you have topay taxes, if no,t who would  pay back the Rothchilds and Queen Elizabeth and some of them oil sheiks in the middle east.

You know, they are on the fed board. Ouch! You didn't know who your fiat currency masters were?

He he!

 

Yeah, and then Obama stacked the Fed and his cabinet with those very same crooks, who continued to profit off us. And what did we do? We re-elected him so they could continue to do it for another four years. Crazy? No. Outright insane is what we all are.

post #38 of 61
I have said it many times:
The one thing I hate about Apple as an investor: Apple gives their executives huge amount of free shares. This dilutes the shares for all the other owners and the market sees as a negative when an executive sells shares. "they don't believe in the company".

Apple should do this:
They should buy the shares on the open market (= not dilute the shares for all other) they should buy double the amount and shred the other shares. This means that both the executive get a bonus that the other share holders get a boost.

I think its sad in Tim Cook era that they have to pay insane amount of money to keep good personal. Steve worked for 50 cent and 50 cent bonus. It was never about the money for him, but to create the greatest products possible. For Tim its all about the money.
post #39 of 61
I don't get this - Just because they are executives, don't they have family and desires to spend the money they have earned? Do people question you when you sell some of those stocks that you got on ESPP or stock options as part of employment. Please don't read into all the non-sense. There is nothing political or hidden agendas behind such sells. Maybe his financial advisor told him to diversify. Or maybe he sold it to donate some money to charity.

AI - Focus on the company's product and live all this nonsense to CNBC blogs for all the lying blogs.
post #40 of 61
Quote:
Originally Posted by shompa View Post

Steve worked for 50 cent and 50 cent bonus. It was never about the money for him, but to create the greatest products possible. For Tim its all about the money.

 

Maybe you should go back and read some of the Apple financial statements or even Steve's autobiography. Yes, Steve wasn't focused on making lots of money, and he did took only a $1 as a salary, but he was offered lots of stocks as bonus. He was no fool. Payroll taxes, if he gave himself big paycheck would have been huge. The taxes on bonus stocks are computed differently - They are cheaper. In case you don't know, some of the professional players are also getting wiser. They are also moving to similar type strategy on their big multi-year-multi-million deals.

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