Apple's Phil Schiller sells $18.6M in AAPL stock, SVP Dan Riccio sells $1.9M
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.
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.
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.
Comments
I wish I could afford 37,172 shares of AAPL stock!
Just sayin' ....
just part of Apple's stock-buy-back-program!
Phil has to pay for those expensive denim shirts he wears!
Quote:
Originally Posted by iPadCary
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.
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.
Quote:
Originally Posted by WardC
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.
No don't perceive it that way. Read post 9, to see it the real way.
Quote:
Originally Posted by scotty321
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.
We know you're prone to paranoia.
Quote:
Originally Posted by scotty321
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.
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.
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.
Originally Posted by iPadCary
Rsts leaving a sinking ship?
Just sayin' ....
Capitalists making money on their hard work? Just saying.
Originally Posted by Rogifan
Does that mean Google is doomed?
I sure hope so.
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.
Quote:
Originally Posted by Corrections
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.