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Apple Senior Vice Presidents Phil Schiller and Dan Riccio Sell Stock Worth Over $20 Million

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MacRumors

macrumors bot
Original poster
Apr 12, 2001
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Apple senior vice presidents Phil Schiller and Dan Riccio recently exercised and sold more than 40,000 combined common stock shares worth over $20 million, according to documents filed today with the SEC.

Schiller sold 37,172 shares of common stock at a price of $500 for a total haul of $18.6 million. Riccio sold a total of 3,754 shares of common stock over the course of 11 trades with prices ranging from $498.75 to $502.40 for a total of around $1.9 million.

Last November Schiller was one of the Apple executives that was awarded 150,000 RSUs as an incentive to remain employed at Apple. Half of those shares vested on June 21, 2013 while the other half will vest on March 21, 2016. In addition to those 75,000 shares vesting in 2016, Schiller has thousands of shares of stock remaining.

The moves to sell come two weeks after Apple directors Bill Campbell and Millard Drexler sold their stock options, three weeks after CFO Peter Oppenheimer sold his stock and almost two months after Apple SVPs Jeff Williams and Bruce Sewell cashed in on their stock.

Article Link: Apple Senior Vice Presidents Phil Schiller and Dan Riccio Sell Stock Worth Over $20 Million
 
Article Link
https://www.macrumors.com/2013/08/16/apple-senior-vice-presidents-phil-schiller-and-dan-riccio-sell-stock-worth-over-20-million/
M

mbh

macrumors 6502
Jul 18, 2002
400
73
JM-Prod said:
ship is sinking?
Click to expand...

Nope. Big-time insiders have to schedule sales like this ahead of time in order to avoid breaking insider trading laws. These guys get so many options they need to sell some in order to cover the taxes on the awards (or something like that; I'm not an accountant.) This happens all the time when AAPL is low, high, and medium.

It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
 
Glassed Silver

Glassed Silver

macrumors 68020
Mar 10, 2007
2,096
2,567
Kassel, Germany
mbh said:
Nope. Big-time insiders have to schedule sales like this ahead of time in order to avoid breaking insider trading laws. These guys get so many options they need to sell some in order to cover the taxes on the awards (or something like that; I'm not an accountant.) This happens all the time when AAPL is low, high, and medium.

It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
Click to expand...

Hear, hear.

Cure the doomsayers anyways...



edit:

Too late...
JM-Prod said:
ship is sinking?
Click to expand...
ZacNicholson said:
apple is doomed!!
Click to expand...

Glassed Silver:mac
 
runsfromzombies

runsfromzombies

macrumors newbie
May 1, 2013
9
3
The Sunshine State
Maybe since the dollar's losing value they cash out and convert the dollars into a commodity like gold or silver so if everything does crash they will still have some worth and maintain the lifestyle they've built for themselves. Just a thought.
 
herr_neumann

herr_neumann

macrumors 6502
Mar 27, 2003
327
4
Roseville, Ca
mbh said:
Nope. Big-time insiders have to schedule sales like this ahead of time in order to avoid breaking insider trading laws. These guys get so many options they need to sell some in order to cover the taxes on the awards (or something like that; I'm not an accountant.) This happens all the time when AAPL is low, high, and medium.

It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
Click to expand...

A good primer on Restricted Stock: http://wiki.fool.com/The_Tax_Implications_of_Selling_Restricted_Stock
 
Vanilla35

Vanilla35

macrumors 68040
Apr 11, 2013
3,344
1,453
Washington D.C.
Better cash out now before it sinks back down to $350 after the 5S is released

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runsfromzombies said:
Maybe since the dollar's losing value they cash out and convert the dollars into a commodity like gold or silver so if everything does crash they will still have some worth and maintain the lifestyle they've built for themselves. Just a thought.
Click to expand...

Who says they're gonna be investing in gold. They're gonna be investing in stocks man. The market is still going up. I wouldn't start investing in gold until the spring.
 
M

Mackan

macrumors 65816
Sep 16, 2007
1,421
91
mbh said:
It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
Click to expand...

No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
 
M

mbh

macrumors 6502
Jul 18, 2002
400
73
Mackan said:
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
Click to expand...

And yet you not only read this story, but commented on it. :rolleyes:
 
runsfromzombies

runsfromzombies

macrumors newbie
May 1, 2013
9
3
The Sunshine State
VanillaCracker said:
Better cash out now before it sinks back down to $350 after the 5S is released

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Who says they're gonna be investing in gold. They're gonna be investing in stocks man. The market is still going up. I wouldn't start investing in gold until the spring.
Click to expand...

Why the spring? Didn't gold just go up this week? And now we have a potential gold-plated iPhone 5S? And the market is like anything else... what goes up, must and will come down. A solid commodity that has retained value throughout history seems like a good investment. The dollar is worth... what? Nothing? But gold will always have value. Who knows why they cashed out!? And who knows if they're flipping their dollars to gold!? I certainly don't. But I applaud them for the work and innovation they've given us the past decade, and like a previous post said, its well deserved.
 
doug in albq

doug in albq

Suspended
Oct 12, 2007
1,449
246
most all the top execs. a Apple are dumping large quantities of their stock...NOT A GOOD SIGN AT ALL.

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mbh said:
Nope. Big-time insiders have to schedule sales like this ahead of time in order to avoid breaking insider trading laws. These guys get so many options they need to sell some in order to cover the taxes on the awards (or something like that; I'm not an accountant.) This happens all the time when AAPL is low, high, and medium.

It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
Click to expand...

You can try and smooth it over...nope.
 
Vanilla35

Vanilla35

macrumors 68040
Apr 11, 2013
3,344
1,453
Washington D.C.
runsfromzombies said:
Why the spring? Didn't gold just go up this week? And now we have a potential gold-plated iPhone 5S? And the market is like anything else... what goes up, must and will come down. A solid commodity that has retained value throughout history seems like a good investment. The dollar is worth... what? Nothing? But gold will always have value. Who knows why they cashed out!? And who knows if they're flipping their dollars to gold!? I certainly don't. But I applaud them for the work and innovation they've given us the past decade, and like a previous post said, its well deserved.
Click to expand...

Yeah lol, I mean I certainty don't know what they're doing. But I highly doubt it's cashing in for gold. I applaud their innovation too, but it's not a mystery that all the top apple employees are making 5+ million off their "hospital" shares. That's why most of these comments aren't praising the guys. Anyway people buy gold when they're not buying investments (of other kinds). When the market is going down, gold is going up. You're right about that, the market is definitely going to go down. I hint more towards the spring
 
ArtOfWarfare

ArtOfWarfare

macrumors G3
Nov 26, 2007
9,558
6,058
Mackan said:
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
Click to expand...

God damn investors believing in startups and funding them. Why can't we live in a world where only government approved projects are funded?
 
C

clibinarius

macrumors 6502a
Aug 26, 2010
671
70
NY
runsfromzombies said:
Why the spring? Didn't gold just go up this week? And now we have a potential gold-plated iPhone 5S? And the market is like anything else... what goes up, must and will come down. A solid commodity that has retained value throughout history seems like a good investment. The dollar is worth... what? Nothing? But gold will always have value. Who knows why they cashed out!? And who knows if they're flipping their dollars to gold!? I certainly don't. But I applaud them for the work and innovation they've given us the past decade, and like a previous post said, its well deserved.
Click to expand...

For most of human history, salt has been more valuable by weight than gold, as well as incense, and silver was worth about 10% of gold if not more.

In fact, gold is probably the only ancient commodity to maintain value. Why is this? Good question. When Bill Dudley was asked about inflation, he said there is no inflation because the iPad 2 is twice as far as the iPad for the same price, to which he was promptly informed that "I can't eat an iPad."

You can't eat gold. You can't turn gold into energy. It just sits there and looks pretty. It only has value because it once had value, and isn't mass produced. It may go up, it may go down, but it is just another rock.
 
SchneiderMan

SchneiderMan

macrumors G3
May 25, 2008
8,332
202
clibinarius said:
For most of human history, salt has been more valuable by weight than gold, as well as incense, and silver was worth about 10% of gold if not more.

In fact, gold is probably the only ancient commodity to maintain value. Why is this? Good question. When Bill Dudley was asked about inflation, he said there is no inflation because the iPad 2 is twice as far as the iPad for the same price, to which he was promptly informed that "I can't eat an iPad."

You can't eat gold. You can't turn gold into energy. It just sits there and looks pretty. It only has value because it once had value, and isn't mass produced. It may go up, it may go down, but it is just another rock.
Click to expand...

Another metal*
 
D

donutbagel

macrumors 6502a
Jun 9, 2013
932
1
Mackan said:
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
Click to expand...

Someone's sour over a loss.

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ArtOfWarfare said:
God damn investors believing in startups and funding them. Why can't we live in a world where only government approved projects are funded?
Click to expand...

Like Fisker :D

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VanillaCracker said:
Who says they're gonna be investing in gold. They're gonna be investing in stocks man. The market is still going up. I wouldn't start investing in gold until the spring.
Click to expand...

Just saying, my prediction is that the S&P500 will hit at least a temporary slump soon. So far, I've been right about it dipping after hitting 1700. Let's wait and see. I don't really know about gold, but it might be ripe since it's dropped.
 
rockarollr

rockarollr

Suspended
Apr 3, 2010
152
224
USA
Just like Larry Ellison said, Apple won't be nearly as successful without Steve. Stick a fork in it... it's done.

(Coming from a long time Apple customer and Apple product enthusiast.)
 
Last edited:
C

chocolaterabbit

macrumors regular
Nov 2, 2008
243
56
rockarollr said:
Just like Larry Ellison said, Apple won't be nearly as successful without Steve. Stick a fork in it... it's done.

(Coming from a long time Apple customer and Apple product enthusiast.)
Click to expand...

What's with everyone reminiscing Steve all of a sudden? Like it or not, he's not coming back, and Apple is going to have to move on with or without him.
 
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