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

Posted:
in AAPL Investors edited January 2014
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.
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Comments

  • Reply 1 of 30
    wardcwardc Posts: 150member


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

  • Reply 2 of 30
    Rats leaving a sinking ship?
    Just sayin' ....
  • Reply 3 of 30
    ipadcary wrote: »
    Rsts leaving a sinking ship?
    Just sayin' ....
    Nah... A mans gotta eat
  • Reply 4 of 30
    Especially Phil! lol
  • Reply 5 of 30


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

  • Reply 6 of 30
    wardcwardc Posts: 150member


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

  • Reply 7 of 30
    jmncljmncl Posts: 42member

    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.

  • Reply 8 of 30
    nikiloknikilok Posts: 383member
    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.
  • Reply 9 of 30
    drblankdrblank Posts: 3,383member

    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.

  • Reply 10 of 30
    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. :(
  • Reply 11 of 30
    nikiloknikilok Posts: 383member
    scotty321 wrote: »
    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. :(

    No don't perceive it that way. Read post 9, to see it the real way.
  • Reply 12 of 30
    mdriftmeyermdriftmeyer Posts: 7,503member

    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. image


     


    We know you're prone to paranoia.

  • Reply 13 of 30
    mhiklmhikl Posts: 471member
    I am Schiller's foundling child. How do I phone home?
  • Reply 14 of 30
    drblankdrblank Posts: 3,383member

    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. image


    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.  

  • Reply 15 of 30
    nikiloknikilok Posts: 383member
    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.
  • Reply 16 of 30
    rogifanrogifan Posts: 10,669member
    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?
  • Reply 17 of 30
    jakebjakeb Posts: 559member


    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.

  • Reply 18 of 30
    tallest skiltallest skil Posts: 43,399member

    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. image

  • Reply 19 of 30
    Dan_DilgerDan_Dilger Posts: 1,583member
    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.
  • Reply 20 of 30
    drblankdrblank Posts: 3,383member

    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.

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