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  • Apple's Senior Vice Presidents Sell Off Over $20.4 Million of Company Stock This Week


    Apple Senior Vice Presidents Phil Schiller and Dan Riccio recently sold company stock worth over $20.4 million this week, with Schillerís sale accounting for nearly $18.6 million according to a recent filing with the U.S. Securities and Exchange Commission.

    The SEC Filing notes that Apple SVP of Worldwide Marketing, Schiller, executed a trade worth $18.59 million, while SVP of Hardware Engineering, Riccio, let go of $1.88 million in AAPL stock on the same day. Schiller ended up selling 37,172 common stock shares at a price of $599 while Riccio disposed of 3,754 shares in a total of 11 trades ranging in price from $498 to $502; each reflected the weighted average sale price.

    The trades come a little over two weeks after Apple board members Millard Drexler and William Campbell sold over $19 million in AAPL stock just last month.

    Source: SEC
    This article was originally published in forum thread: Apple's Senior Vice Presidents Sell Off Over $20.4 Million of Company Stock This Week started by Akshay Masand View original post
    Comments 8 Comments
    1. Carvensno's Avatar
      Carvensno -
      So i wonder whats going on? Do they know something we don't? Or are they just preparing for retirement and cashing out?
    1. Perceptum's Avatar
      Perceptum -
      The sky is falling... The sky is falling...
    1. kddo14's Avatar
      kddo14 -
      just a hunch, but I'd guess that $20.4m is very, very little of the stock that Schiller has in the company
    1. MiSTRFiNGA's Avatar
      MiSTRFiNGA -
      Big stocks being sold off everywhere. Like perception said "Go Look At The Sky" The rich know what us little guys don't/ If THEY are getting prepared, we should follow suite...
    1. buggsy2's Avatar
      buggsy2 -
      Pocket change for these guys.
    1. Stephen.'s Avatar
      Stephen. -
      Quote Originally Posted by Carvensno View Post
      So i wonder whats going on? Do they know something we don't? Or are they just preparing for retirement and cashing out?
      If they did know something we dont and acted on it, it would be insider trading.
    1. Lohand's Avatar
      Lohand -
      Why not in October after new product launch and the inevitable stock price bump? Odd indeed ...
    1. icebox93's Avatar
      icebox93 -
      @lohand the general apple stock price pattern is that it rises before the launch and falls after. So selling now isn't so crazy, though of course past performance doesn't predict future results.