Apple SVP of Internet Software and Services Eddy Cue Cashes in $8.8 Million in Stock

MacRumors · Dec 4, 2012, 10:03 PM

Apple Senior Vice President of Internet Software and Services Eddy Cue has decided to sell off 15,000 shares of his stock for about $8.8 million, according to a recent regulatory filing. He sold off his Apple stock for about $583.99 a share.

The stock that Cue cashed in is not part of the 100,000 restricted stock units (RSUs) he received in September 2011 as a promotion bonus. Half of those shares vest on August 24, 2013 while the other half vest on August 24, 2015 if Cue is still with the company.

Today's regulatory filing reveals that Cue still has 285 shares of Apple stock remaining, but The Next Web notes that next year those shares will be bundled in with the 50,000 coming from the first batch of last year's promotion bonus RSUs. Cue has received 76,250 RSUs over the past five years.

Last September, Cue was elevated to the senior management team, and he was recently put in charge of both Siri and Maps. He was also added to Ferrari's Board of Directors.

Cue cashing in does not necessarily mean that he is less invested in Apple. Senior Vice President of Technologies Bob Mansfield, Cue and other Apple executives may be looking to unload stock in 2012 as capital gains tax increases are scheduled in 2013. By selling now rather than in 2013, sellers can reduce their tax burden, and all of the senior executives are in line to receive substantial stock awards if they continue working at the company.

Article Link: Apple SVP of Internet Software and Services Eddy Cue Cashes in $8.8 Million in Stock

TheMacBookPro · Dec 4, 2012, 10:06 PM

Time for some new Ferraris!

justperry · Dec 4, 2012, 10:15 PM

Good for him.

Quote:

Originally Posted by TheMacBookPro

Time for some new Ferraris!

You should say time for a new beamer M5

TheMacBookPro · Dec 4, 2012, 10:25 PM

Quote:

Originally Posted by justperry

You should say time for a new beamer M5

With 8.8mil & a seat on Ferrari's board, I think he'd take a new FF if he needs a practical family car

I know I would!

Eric E. Schmidt · Dec 4, 2012, 10:29 PM

eddie and bob trying to outdo each other xmas shopping this year?

wonder what they'll get me.

ixodes · Dec 4, 2012, 10:32 PM

It's good to witness the choices & timing of these sell offs. Proves that Apples top execs are paying attention. They know the hammers about to fall & they're getting out of the way. Smart men.

yensteel · Dec 4, 2012, 10:45 PM

I think they're protecting their investment before it's stocks fall. Two times is a big coincidence.

Shasterball · Dec 5, 2012, 04:47 AM

Quote:

Originally Posted by ixodes

It's good to witness the choices & timing of these sell offs. Proves that Apples top execs are paying attention. They know the hammers about to fall & they're getting out of the way. Smart men.

????? No, they are trying to avoid possible/likely tax in creases in a couple of weeks.

GenesisST · Dec 5, 2012, 07:07 AM

Quote:

Originally Posted by ixodes

It's good to witness the choices & timing of these sell offs. Proves that Apples top execs are paying attention. They know the hammers about to fall & they're getting out of the way. Smart men.

Well, what's the point of having stocks if they remain pieces of paper in a safe. Better they spend that money themselves than their estate...

And they still have a ******** of them...

mrsir2009 · Dec 4, 2012, 10:55 PM

Quote:

Originally Posted by Eric E. Schmidt

eddie and bob trying to outdo each other xmas shopping this year?

wonder what they'll get me.

...Trying to outdo each other for the secret santa at the Apple employee XMAS party!

Verbatim Cookie · Dec 4, 2012, 10:53 PM

Quote:

Originally Posted by justperry

You should say time for a new beamer M5

I have been informed that a beamer (or beemer) is a BMW motorcycle; a BMW with four wheels is a bimmer.

justperry · Dec 4, 2012, 11:07 PM

Quote:

Originally Posted by TheMacBookPro

With 8.8mil & a seat on Ferrari's board, I think he'd take a new FF if he needs a practical family car

I know I would!

Just pointed to your nice Avatar.

Ferrari's are nice on the racetrack, otherwise they are rubbish, I'll take a BMW M3 over a Ferrari any day.

Quote:

Originally Posted by Verbatim Cookie

I have been informed that a beamer (or beemer) is a BMW motorcycle; a BMW with four wheels is a bimmer.

You know what beamer actually means, where I am from it is because many of them end up in those safety guards (On roads), and that's why we call them beamer.

(Spelling aside)

TheMacBookPro · Dec 4, 2012, 11:21 PM

Quote:

Originally Posted by justperry

Just pointed to your nice Avatar.

Hah, I know

Quote:

Ferrari's are nice on the racetrack, otherwise they are rubbish, I'll take a BMW M3 over a Ferrari any day.

I haven't driven an FF, but you'd be surprised at how 'normal' a California is. Very easy to drive, though I'm not a fan of the stying.

WatchTheThrone · Dec 4, 2012, 10:11 PM

Make it rain Eddy!!!!

mrgraff · Dec 4, 2012, 10:28 PM

He's earned every penny, and good on him. That said, I wish I could "decide" to cash in $8.8 million!

mrsir2009 · Dec 4, 2012, 10:53 PM

Everyone's cashin' in dat stock

xxgilxx · Dec 5, 2012, 12:08 AM

Looks like Daddy Cue needs a new mansion...

seveej · Dec 19, 2012, 03:22 AM

Quote:

Originally Posted by MacRumors

Apple Senior Vice President of Internet Software and Services Eddy Cue has decided to sell off 15,000 shares of his stock for about $8.8 million, according to a recent regulatory filing. He sold off his Apple stock for about $583.99 a share.

Dear Eddy,

in case you are
a) reading this and
b) wondering how to use the money,

Please remember there are a lot of people out there who could really used things like:
- food
- medicine
- shelter
etc.

Thank you for your time, and have a nice christmas.

RGDS,

Dec 4, 2012, 10:03 PM	#1
MacRumors macrumors bot Join Date: Apr 2001	Apple SVP of Internet Software and Services Eddy Cue Cashes in $8.8 Million in Stock Apple Senior Vice President of Internet Software and Services Eddy Cue has decided to sell off 15,000 shares of his stock for about $8.8 million, according to a recent regulatory filing. He sold off his Apple stock for about $583.99 a share. The stock that Cue cashed in is not part of the 100,000 restricted stock units (RSUs) he received in September 2011 as a promotion bonus. Half of those shares vest on August 24, 2013 while the other half vest on August 24, 2015 if Cue is still with the company. Today's regulatory filing reveals that Cue still has 285 shares of Apple stock remaining, but The Next Web notes that next year those shares will be bundled in with the 50,000 coming from the first batch of last year's promotion bonus RSUs. Cue has received 76,250 RSUs over the past five years. Last September, Cue was elevated to the senior management team, and he was recently put in charge of both Siri and Maps. He was also added to Ferrari's Board of Directors. Cue cashing in does not necessarily mean that he is less invested in Apple. Senior Vice President of Technologies Bob Mansfield, Cue and other Apple executives may be looking to unload stock in 2012 as capital gains tax increases are scheduled in 2013. By selling now rather than in 2013, sellers can reduce their tax burden, and all of the senior executives are in line to receive substantial stock awards if they continue working at the company. Article Link: Apple SVP of Internet Software and Services Eddy Cue Cashes in $8.8 Million in Stock
	0

Dec 4, 2012, 10:06 PM	#2
TheMacBookPro macrumors 68020 Join Date: May 2008	Time for some new Ferraris! __________________ .MacBook Pro¹⁵ (Retina.2.6.16.512) \| iPhone⁵ (Black.64.4G) \| iPad³ (Black.64.4G) \| Surfaceᴿᵀ (64.touch) \| Nexus⁷ (16)
	5

Dec 4, 2012, 10:32 PM	#6
ixodes macrumors 601 Join Date: Jan 2012 Location: Pacific Coast, USA	It's good to witness the choices & timing of these sell offs. Proves that Apples top execs are paying attention. They know the hammers about to fall & they're getting out of the way. Smart men. __________________ *An Ultra Fast Mac Is...My Favorite*
	4

Dec 4, 2012, 10:53 PM	#16
mrsir2009 macrumors 604 Join Date: Sep 2009 Location: Wellington, New Zealand	Everyone's cashin' in dat stock __________________ How to Prevent your Mac from Overheating
	0

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Dec 4, 2012, 10:29 PM	#5
Eric E. Schmidt macrumors member Join Date: Nov 2012 Location: Calif	eddie and bob trying to outdo each other xmas shopping this year? wonder what they'll get me.
	8

Dec 4, 2012, 10:45 PM	#7
yensteel macrumors member Join Date: Aug 2009	I think they're protecting their investment before it's stocks fall. Two times is a big coincidence.
	0

Dec 4, 2012, 10:11 PM	#14
WatchTheThrone macrumors regular Join Date: Aug 2011	Make it rain Eddy!!!!
	0

Dec 4, 2012, 10:28 PM	#15
mrgraff macrumors 6502 Join Date: Apr 2010 Location: Albuquerque	He's earned every penny, and good on him. That said, I wish I could "decide" to cash in $8.8 million!
	2

Dec 5, 2012, 12:08 AM	#17
xxgilxx macrumors regular Join Date: Jul 2010	Looks like Daddy Cue needs a new mansion...
	0


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