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Apple's Phil Schiller sells $18.6M in AAPL stock, SVP Dan Riccio sells $1.9M

post #1 of 31
Thread Starter 
Apple senior vice presidents Phil Schiller and Dan Riccio sold company stock worth over $20.4 million this week, with Schiller's sale accounting for nearly $18.6 million, according to a filing with the U.S. Securities and Exchange Commission.

Schiller
Source: SEC


The SEC filings note Apple SVP of Worldwide Marketing Schiller executed a trade on Wednesday worth $18.59 million, while SVP of Hardware Engineering Riccio let go of $1.88 million in AAPL stock that same day.

Schiller sold 37,172 common stock shares at a price of $500. Riccio disposed of 3,754 shares in a total of 11 trades ranging in price from $498 to $502, each reflecting the weighted average sale price.

The trades on Wednesday come a little over two weeks after Apple board members Millard Drexler and William Campbell sold off over $19 million in AAPL stock last month.
post #2 of 31

I wish I could afford 37,172 shares of AAPL stock!

post #3 of 31
Rats leaving a sinking ship?
Just sayin' ....
Edited by iPadCary - 8/17/13 at 7:39am
post #4 of 31
Quote:
Originally Posted by iPadCary View Post

Rsts leaving a sinking ship?
Just sayin' ....
Nah... A mans gotta eat
post #5 of 31
Especially Phil! lol
post #6 of 31

just part of Apple's stock-buy-back-program!

post #7 of 31

Phil has to pay for those expensive denim shirts he wears!

post #8 of 31
Quote:
Originally Posted by iPadCary View Post

Rsts leaving a sinking ship?
Just sayin' ....

 

Nope, that's peanuts for him. He has a lot more stock than that.

He usually sells a bunch of shares when his restricted stock units vest after a few years.

post #9 of 31
It's simple when shares hit a high price you sell and profit so u can buy back a lot more when it drops. Good these guys are putting back stocks for the public to buy. When the public sells em in huge quantities the guys at apple or even Apple will buy back.

It looks like a game of ping pong between the public investors and apple.

Like I mentioned Apple will sell there holdings at a higher value only to buy back later at a lower value. And they do this because they have confidence in the people they work with.
post #10 of 31
Quote:
Originally Posted by WardC View Post

I wish I could afford 37,172 shares of AAPL stock!

No.  It's called selling a bunch of stock to have CASH to buy things like cars, houses, boats, etc.

post #11 of 31
Jesus! What do they know that we don't know? Seems like they're not too rosy on Apple's future if they're dumping that much stock. 1frown.gif
post #12 of 31
Quote:
Originally Posted by scotty321 View Post

Jesus! What do they know that we don't know? Seems like they're not too rosy on Apple's future if they're dumping that much stock. 1frown.gif

No don't perceive it that way. Read post 9, to see it the real way.
post #13 of 31
Quote:
Originally Posted by scotty321 View Post

Jesus! What do they know that we don't know? Seems like they're not too rosy on Apple's future if they're dumping that much stock. 1frown.gif

 

We know you're prone to paranoia.

post #14 of 31
I am Schiller's foundling child. How do I phone home?

When I find time to rewrite the laws of Physics, there'll Finally be some changes made round here!

I am not crazy! Three out of five court appointed psychiatrists said so.

Reply

When I find time to rewrite the laws of Physics, there'll Finally be some changes made round here!

I am not crazy! Three out of five court appointed psychiatrists said so.

Reply
post #15 of 31
Quote:
Originally Posted by scotty321 View Post

Jesus! What do they know that we don't know? Seems like they're not too rosy on Apple's future if they're dumping that much stock. 1frown.gif

Maybe the guy wants to buy another house, nice paintings, a nice yacht.  He always gets more stock.    What's the point of owning lots of shares in a company if you can't sell them to actually be able to spend it on something?

 

He's been there for over 10 years.  These guys don't get paid that much from their regular salary, so if they want to buy a nice house, etc., they kind of need cash to throw down a hefty deposit.

 

We aren't their mothers trying to control their spending habits.  If they have the stock to sell and they want to sell, then that's their decision to sell.

 

Upper management sells stock or exercises stock options which have little to do with whats going on with the company.  Sometimes it does, sometimes it doesn't.

 

Jobs exercised and sold off all his stock every year, even when Apple was kicking ass in the stock market.  

post #16 of 31
I am Positive these guys only sold a percentage of there shares. Maybe they wanna diversify there investments. They prolly found something else worth while pumping money into. Who knows some top secret R&D project perhaps.
post #17 of 31
Good grief, this is nothing new. Also, Larry Page, Sergy Brin an Eric Schmdit sold a shitload of Google stock recently. Does that mean Google is doomed?
post #18 of 31

I don't know if this is that crazy. They get options to buy stock for a fraction of what its worth and continue to get them on an ongoing basis. Selling at $500 is a HUGE profit for these guys. I don't read all that much into it.

post #19 of 31
Originally Posted by iPadCary View Post
Rsts leaving a sinking ship?
Just sayin' ....

 

Capitalists making money on their hard work? Just saying.

 

Originally Posted by Rogifan View Post
Does that mean Google is doomed?

 

I sure hope so. 1tongue.gif

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply
post #20 of 31
You could research how much stock these guys have left, and how much is in the form of options that have not yet been exercised.

They didn't buy stock at $400. They got stock grants and/or options with a low strike price, meaning they could still profit tremendously by selling their stock when it was $380.
post #21 of 31
Quote:
Originally Posted by Corrections View Post

You could research how much stock these guys have left, and how much is in the form of options that have not yet been exercised.

They didn't buy stock at $400. They got stock grants and/or options with a low strike price, meaning they could still profit tremendously by selling their stock when it was $380.

I think this was stock that was granted and they still have to pay a lot of taxes on the money.  They always get more stock and options if they continue to work there, it's part of their compensation.

 

Some people try to turn something fairly trivial into some big news story to get attention.

post #22 of 31
Cramer sez, insider selling not a big deal, insider buying is bullish
post #23 of 31
Quote:
Originally Posted by Corrections View Post

You could research how much stock these guys have left, and how much is in the form of options that have not yet been exercised.

They didn't buy stock at $400. They got stock grants and/or options with a low strike price, meaning they could still profit tremendously by selling their stock when it was $380.

 

You can see what they have here --

http://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0000320193

 

And other Apple related reports here --

http://www.sec.gov/cgi-bin/browse-edgar?CIK=0000320193&action=getcompany

post #24 of 31
I'll there's nothing much to see here. Probably being sold for tax reasons.
post #25 of 31
Why on Earth wouldn't they at least wait until the new iPhone and/or iPads release and the stock subsequently goes up for a period?
post #26 of 31
Originally Posted by xjyamaha View Post
Why on Earth wouldn't they at least wait until the new iPhone and/or iPads release and the stock subsequently goes up for a period?

 

Because stock historically plummets after keynotes.

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply
post #27 of 31
Quote:
Originally Posted by xjyamaha View Post

Why on Earth wouldn't they at least wait until the new iPhone and/or iPads release and the stock subsequently goes up for a period?

Because it can be construed as insider trading by the SEC. Therefore, companies like Apple have dates in which employees can not buy or sell AAPL stocks. There are also windows in which they can exercise their options or vested stocks. And these windows are often weeks before or after any announcements that may cause big movements in the stock. Not only that, these employees must put their trade order in weeks or months in advance. They can not trade their shares in the open market. They can only set the date that it's to be traded, not the price.   

 

That's why when people see insiders sell at a low point in the stock and wonder why didn't they wait. Or maybe think the insider knows something and is dumping their shares now because the stock is going lower. But the reality is that the insider had no idea what price he's going to sell at because he had to place the sell order in months before and only during a certain window. Otherwise the SEC (and shareholders) can make accusation of insider trading.

 

The other point is that the tax owed on vested stocks and options is due once they become vested. Not when they are sold. And if the stock value (when vested) is going to be a big chunk of the yearly earnings, the IRS wants quarterly payments on the estimated tax, instead waiting till April to pay. So employees often put in a sell order in the quarter their stock become vested to pay the tax.  

post #28 of 31
Shows how much I know about stocks. Had no idea.
Quote:
Originally Posted by DavidW View Post

Because it can be construed as insider trading by the SEC. Therefore, companies like Apple have dates in which employees can not buy or sell AAPL stocks. There are also windows in which they can exercise their options or vested stocks. And these windows are often weeks before or after any announcements that may cause big movements in the stock. Not only that, these employees must put their trade order in weeks or months in advance. They can not trade their shares in the open market. They can only set the date that it's to be traded, not the price.   

That's why when people see insiders sell at a low point in the stock and wonder why didn't they wait. Or maybe think the insider knows something and is dumping their shares now because the stock is going lower. But the reality is that the insider had no idea what price he's going to sell at because he had to place the sell order in months before and only during a certain window. Otherwise the SEC (and shareholders) can make accusation of insider trading.

The other point is that the tax owed on vested stocks and options is due once they become vested. Not when they are sold. And if the stock value (when vested) is going to be a big chunk of the yearly earnings, the IRS wants quarterly payments on the estimated tax, instead waiting till April to pay. So employees often put in a sell order in the quarter their stock become vested to pay the tax.  

Shows how much I know about stocks. Had no idea.
Quote:
Originally Posted by Tallest Skil View Post

Because stock historically plummets after keynotes.

I know Apple stock has increased following releases.....
post #29 of 31
Originally Posted by xjyamaha View Post
I know Apple stock has increased following releases.....


When? I could probably count the number of times that has happened but certainly can't the number of times it has fallen.

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already f*ed.

 

Reply
post #30 of 31
Quote:
Originally Posted by Tallest Skil View Post


When? I could probably count the number of times that has happened but certainly can't the number of times it has fallen.

That depends on the time frame. If you're comparing the price of AAPL the day before a keynote and the day after, then more often than not, it will be lower the day after.(At least that's the way it seems to me also) That's because Apple rarely meets all the hype and rumors built up before the keynote. But the further out you go, the better the chances are that AAPL will be higher after the keynote than when you bought it. (Barring some unforeseen bad news in between.) Buy AAPL a few weeks before a keynote and chances are good that AAPL will still be higher than when you bought it after it drops the day after the keynote. For instance, if AAPL drops 2% after a keynote, it might have ran up 4% from when you bought it a few weeks ago. Most traders would sell right before a keynote to maximize gain. But for investors, we're use to it, it's just part of the AAPL roller coaster ride. 

post #31 of 31
Quote:
Originally Posted by Rogifan View Post

Good grief, this is nothing new. Also, Larry Page, Sergy Brin an Eric Schmdit sold a shitload of Google stock recently. Does that mean Google is doomed?

 

No...everyone else is. lol.gif

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