Apple SVP Eddy Cue sells $37.5M in AAPL stock

Posted:
in General Discussion edited February 2020
Apple SVP of Internet Software and Services Eddy Cue on Thursday earned sold 335,000 common stock AAPL shares to net himself payday worth $37,473,100.




According to a filing with the Securities and Exchange Commission, Cue unloaded the personal shares in multiple transactions ranging in price from $111.53 to $112.30, equating to a weighted average of $111.86 per share. Following the sale, Cue was left with 1,464 shares of Apple stock held by his trust.

This week's selloff comes after Cue saw 525,000 restricted stock units vest into common stock in September. At the time, the award was worth $59.2 million. Apple withheld 256,305 shares to satisfy statutory tax requirements, leaving Cue with 268,695 shares that were subsequently transferred to a family trust.

In related news, SVP of Hardware Engineering Dan Riccio also unloaded a portion of his stock hoard on Thursday, selling 33,323 shares in multiple transactions to net $3.7 million.

Cue and Riccio were among a set of executives that saw 87,578 RSUs worth nearly $10 million vest in October.

The pair will have the chance to replenish their respective stock awards over the next few years, as Apple recently meted out bonuses to its executive team. The package includes 149,667 RSUs scheduled to vest through 2021 -- some at a 200 percent conversion rate -- based on tenure and performance metrics.
«13

Comments

  • Reply 1 of 50
    Now he needs to leave. He's had his day in the sun and so many poor decisions have been made under his stewardship. Get some new people in there who can move the needle on Apple Music, Maps and more!
    edited November 2016 lamboaudi4thewhitefalconrogifan_newperkedelboredumbanantksundarammacxpressxzu
  • Reply 2 of 50
    jakebjakeb Posts: 562member
    He sold ALL of his stock aside from 1000 or so shares? Am I reading that right? 
    netmagedogman
  • Reply 3 of 50
    Rats, sinking ship anyone?  ;-)
    perkedelboredumbaderutterdogman
  • Reply 4 of 50
    jfc1138jfc1138 Posts: 3,090member
    Cash is a useful thing. 

    baconstangjony0
  • Reply 5 of 50
    lkrupplkrupp Posts: 10,557member
    Now he needs to leave. He's had his day in the sun and so many poor decisions have been made under his stewardship. Get some new people in there who can move the needle on Apple Music, Maps and more!
    No, you need to leave this forum. You have no idea how to run Apple and never will.  All you do is bitch.
    mwhitewatto_cobrarevenantnetmagenolamacguyEsquireCatsmejsricjony0
  • Reply 6 of 50
    lkrupp said:
    Now he needs to leave. He's had his day in the sun and so many poor decisions have been made under his stewardship. Get some new people in there who can move the needle on Apple Music, Maps and more!
    No, you need to leave this forum. You have no idea how to run Apple and never will.  All you do is bitch.
    He does have too much on his plate imv. I think iCloud, Siri and maps should be given to a new SVP of cloud services. Apples work in machine learning would fall under this person too. Then Pro software could be moved under Craig Federighi.
    asdasd
  • Reply 7 of 50
    Pl38Pl38 Posts: 1unconfirmed, member
    Oh dear me - bad timing, fleece the punter and rip the crap out of the company, without Apple we have no future for computing in the real world! But they have turned into Micro$oft as was - rip Steve.
    boredumb
  • Reply 8 of 50
    jdwjdw Posts: 1,316member
    I've been a big fan of Apple continuously since my 128K Macintosh back in early 1984. I've never once spent a single dime on a non-Apple computer. And despite the recent MacBook Pro fiasco, I still very much love Apple and of course love Appleinsider. But through it all, I've never really liked Eddy Cue. I can't put my finger on it. There's just something about the man that feels wrong to me.  That feeling doesn't have anything to do with his looks or personality or even his money. He just seems to have an air of disingenuity about him.  Cue also said that the book "Becoming Steve Jobs" was the only book to "get it right."   I've read pretty much every book published on Steve Jobs including that one. Out of all of the books, I felt that "Becoming Steve Jobs" was perhaps one of the more severe against him.  As such, when we read reports about how much compensation is flowing into the wallet of Mr. Cue, we can only wonder what he is actually doing to earn that level of income.  Perhaps it's none of my business, but I still can't help but wonder.
    SpamSandwichxzu
  • Reply 9 of 50
    It's good to be Eddie. 

    To to those who criticize him, remember that Steve hired him, promoted him, and kept him in his position. I trust Steve's judgement of the man more than Forum "experts."
    jakebdigitolbuckalecmwhiteericthehalfbeerevenantRayz2016macplusplusnetmagenolamacguy
  • Reply 10 of 50
    quadra 610quadra 610 Posts: 6,757member
    Noh oes! The fall is skying!
    indyfx
  • Reply 11 of 50
    mpantonempantone Posts: 2,030member
    jfc1138 said:
    Cash is a useful thing. 
    It is, however this is likely more about portfolio diversification.

    And it's not just Apple execs who think about this sort of stuff.

    For Eddy, a $5 drop in AAPL (like what happened this week) resulted in a $1.675M loss in paper value. You really don't want all/most of your investment in one issue. 

    Moreover, AAPL has underperformed the S&P 500 over the past year. Eddy would have had a better rate of return if he had that $37.4M in SPY. Or even better had he invested in NTDOY (Nintendo ADR), BABA (Alibaba) and even YHOO a year ago.
  • Reply 12 of 50
    eightzeroeightzero Posts: 3,052member
    And getting out of stocks right before the US election ain't a bad idea. 
    randominternetpersonSpamSandwichiqatedomacplusplusasdasd
  • Reply 13 of 50
    eightzero said:
    And getting out of stocks right before the US election ain't a bad idea. 
    Yeah, the US election next week is going to determine stock returns forever...
    SpamSandwichiqatedomacplusplus
  • Reply 14 of 50
    eightzeroeightzero Posts: 3,052member
    eightzero said:
    And getting out of stocks right before the US election ain't a bad idea. 
    Yeah, the US election next week is going to determine stock returns forever...
    Depending on how the chips fall, a 50% crash isn't unthinkable.

    If you ditched Brittish Pounds or UK stocks before the Brexit vote (or even went short) you made a killing. 
    randominternetperson
  • Reply 15 of 50
    eightzero said:
    eightzero said:
    And getting out of stocks right before the US election ain't a bad idea. 
    Yeah, the US election next week is going to determine stock returns forever...
    Depending on how the chips fall, a 50% crash isn't unthinkable.

    If you ditched Brittish Pounds or UK stocks before the Brexit vote (or even went short) you made a killing. 
    More likely avoided being killed, financially speaking.  
    eightzerodorkus maximus
  • Reply 16 of 50
    lkrupp said:
    Now he needs to leave. He's had his day in the sun and so many poor decisions have been made under his stewardship. Get some new people in there who can move the needle on Apple Music, Maps and more!
    No, you need to leave this forum. You have no idea how to run Apple and never will.  All you do is bitch.
    SpamSandwich may 'bitch' a lot, but his larger point is valid.

    Eddie Cue does not inspire confidence. It seems to me that Apple has vastly outgrown him. His overall handling of the iBooks case was an early signal, and he has not shown much by way leadership skills of the services under his watch since.

    If I am missing something remarkable that has come about under his leadership in the past few years, I'd be bappy to stand corrected. 
    SpamSandwichasdasd
  • Reply 17 of 50
    mpantone said:
    jfc1138 said:
    Cash is a useful thing. 
    It is, however this is likely more about portfolio diversification.

    And it's not just Apple execs who think about this sort of stuff.

    For Eddy, a $5 drop in AAPL (like what happened this week) resulted in a $1.675M loss in paper value. You really don't want all/most of your investment in one issue. 

    Moreover, AAPL has underperformed the S&P 500 over the past year. Eddy would have had a better rate of return if he had that $37.4M in SPY. Or even better had he invested in NTDOY (Nintendo ADR), BABA (Alibaba) and even YHOO a year ago.
    Get the product right and the stock price will take care of itself.
  • Reply 18 of 50
    blitz1blitz1 Posts: 428member
    mpantone said:
    jfc1138 said:
    Cash is a useful thing. 
    It is, however this is likely more about portfolio diversification.

    And it's not just Apple execs who think about this sort of stuff.

    For Eddy, a $5 drop in AAPL (like what happened this week) resulted in a $1.675M loss in paper value. You really don't want all/most of your investment in one issue. 

    Moreover, AAPL has underperformed the S&P 500 over the past year. Eddy would have had a better rate of return if he had that $37.4M in SPY. Or even better had he invested in NTDOY (Nintendo ADR), BABA (Alibaba) and even YHOO a year ago.
    Eddy would have had a better RoR if he'd delivered a better job.
    SpamSandwichasdasd
  • Reply 19 of 50
    jcs2305jcs2305 Posts: 1,336member
    It's good to be Eddie. 

    To to those who criticize him, remember that Steve hired him, promoted him, and kept him in his position. I trust Steve's judgement of the man more than Forum "experts."

    Yes, Steve had unquestionable judgement. How did his decision to do alternative cancer treatment work out again?
    Seriously?  Personal health decisions are not the same as business judgement you jackass. Thanks for joining to make this ridiculous ignorant point. Hope your day is better because of it. 
    aderutterdorkus maximusmacxpressSpamSandwichnetmagenolamacguymejsricfastasleep
  • Reply 20 of 50
    gatorguygatorguy Posts: 24,153member
    mpantone said:
    jfc1138 said:
    Cash is a useful thing. 
    It is, however this is likely more about portfolio diversification.

    And it's not just Apple execs who think about this sort of stuff.

    For Eddy, a $5 drop in AAPL (like what happened this week) resulted in a $1.675M loss in paper value. You really don't want all/most of your investment in one issue. 

    Moreover, AAPL has underperformed the S&P 500 over the past year. Eddy would have had a better rate of return if he had that $37.4M in SPY. Or even better had he invested in NTDOY (Nintendo ADR), BABA (Alibaba) and even YHOO a year ago.
    TBH he'll unlikely ever need a penny of that money during his entire lifetime or that of his family. He made about $25M at Apple last year so he was already wealthy enough to do whatever he wished, go wherever he wanted. The ridiculous excessiveness of executive pay at mega-corporations marches on. Why anyone deserves more than $5M/yr in pay on a regular basis is beyond my comprehension. So much of someone's position in life is luck of the draw, being in the right place at the right point in time and not because they're really more "special" than any others and thus more deserving. There comes a point where having "more" accomplishes absolutely nothing in improving your life. It becomes just the accumulation of more money for money's sake. 
    edited November 2016 singularityasdasdnolamacguy
Sign In or Register to comment.