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08-16-2013, 09:24 PM #1
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.
08-16-2013, 09:40 PM #2
So i wonder whats going on? Do they know something we don't? Or are they just preparing for retirement and cashing out?
08-16-2013, 09:45 PM #3
The sky is falling... The sky is falling...
08-17-2013, 12:19 AM #4
just a hunch, but I'd guess that $20.4m is very, very little of the stock that Schiller has in the company
08-17-2013, 11:26 AM #5
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...
08-17-2013, 01:29 PM #6
Pocket change for these guys.
08-18-2013, 10:16 AM #7
08-19-2013, 01:08 PM #8
Why not in October after new product launch and the inevitable stock price bump? Odd indeed ...
08-20-2013, 01:46 AM #9
@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.