Apple CFO Peter Oppenheimer Sells $16.4 Million in AAPL Stock

Discussion in 'Mac Blog Discussion' started by MacRumors, Jul 26, 2013.

  1. macrumors bot

    MacRumors

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    Apple CFO Peter Oppenheimer sold 37,172 shares of Apple stock on Wednesday as part of a SEC Rule 10b5-1 scheduled trading plan implemented in November of 2011. The sale was disclosed in a filing with the SEC.

    The sale took place the day after Apple's July earnings announcement, a profitable choice for Oppenheimer as Apple's stock jumped from $420/share to $440/share following the earnings release. The sale was executed at an average share price of $440.31.

    The shares were acquired by Oppenheimer in June as part of a bonus award originally granted in November 2011.

    Oppenheimer remains in possession of 4,834 shares currently worth $2.1 million. As of earlier this year, Apple executives -- other than Tim Cook -- are required to hold three times their annual base salary in Apple stock. Oppenheimer's base pay is $800,000 per year, meaning he would be required to hold $2.4 million in stock, though because of variances in Apple's stock price, Oppenheimer is likely still complying with the new requirements.

    The transaction was made in accordance with SEC Rule 10b5-1, which means the executive notified the SEC of a plan to sell shares months ahead of the sale to avoid any accusations of insider trading.

    Article Link: Apple CFO Peter Oppenheimer Sells $16.4 Million in AAPL Stock
     
  2. macrumors member

    Joined:
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    #2
    I got to meet and speak personally with Mr. Oppenheimer while attending Cal Poly. Really enjoyed getting to speak with him. His presentation was much more entertaining than Tim Cook giving a keynote.
     
  3. macrumors 6502

    Joined:
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    #3
    Interesting.

    Tim Cook isn't much of a presenter, I don't want to go as far as saying "his passion is lacking for the products" but there's definitely something off. He just doesn't have "it".
     
  4. macrumors 68030

    needfx

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    #4
    You have to hand it to Tim thaqt he was much better in the last keynote.

    Significant changes in rhythm & accent are more than evident.

    He must have been seriously coached.
     
  5. macrumors G4

    Chupa Chupa

    Joined:
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    #5
    He's not a salesman for sure, which is part of Apple's problem right now. He can neither turn lemons into lemonade nor sell air conditioners to Eskimos like Jobs could.

    I think Cook has "passion" but just doesn't emote. He's a very stoic personality.
     
  6. macrumors demi-god

    Shrink

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    #6
    I'm sure I'm missing something, but what does any of the discussion thus far have to do with Oppenheimer selling stock?
     
  7. macrumors 68040

    KdParker

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    #7
    Wonder what his doing with all that cash??

    buying a spot on the space shuttle?
     
  8. macrumors 68030

    needfx

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    #8
    the whole thread should be deemed OT

    period
     
  9. macrumors 6502a

    ConCat

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    #9
    Probably reinvesting it back into the economy like most rich people. Buying other stocks for example. Having all his money invested in Apple stock is foolish, so he could be diversifying.
     
  10. macrumors regular

    Joined:
    Mar 21, 2013
    #10
    K, let me start this off right

    OMG Apple is DOOMED! The rats are abandoning the sinking ship.
     
  11. macrumors 6502a

    Joined:
    May 24, 2013
    #11
    What's to discuss about that? He sold some stock, got some money, will reinvest it elsewhere like everyone else does... Articles like these, which tbh shouldn't even be on here since it's neither a rumor nor does it have anything to do with Apple products, should close the comments.
     
  12. macrumors demi-god

    Shrink

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    #12
    I certainly won't disagree with your point that there is not much to discuss. If so, then don't post comments unrelated to the topic of the thread, open a thread on the topic you would like to discuss.:D
     
  13. macrumors 65816

    GenesisST

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    #13
    If he has a trophy wife, those are expensive!
     
  14. macrumors 6502a

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    #14
    I found $5 in the dryer, but I ended up giving it to the homeless guy, living in the parking lot, outside our Office Building.

    No SEC filing necessary.
     
  15. macrumors 6502

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    #15
    Why was this story moved from the main articles listing on the front page?
     
  16. macrumors 6502a

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    #16
    Wow... do you want to know who doesn't have it? Steve Balmer.

    Apple is trying to survive on the wave Steve Jobs left, we have to be realistic here... Apple have been just resizing because they have no clue in how to create new products, and the ones that say that the trash can is "innovation"... yeah right.

    I bet in 2 years (or less) Tim Cook will have to step down because Apple won't be able to hide their are not innovating but copying others companies.
     
  17. macrumors 6502

    Mums

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    #17
    Because this is huge news that someone wants to sideline. Maybe the economy is about to crash. Oppenheimer and his family are US / Bay Area elite, so they probably hear about future plans.
     
  18. macrumors 65816

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    #18
    If Cook is going to hang in as CEO two more years it's time to sell my stock too.
     
  19. macrumors 68030

    macs4nw

    #19
    Firsthand knowledge? lol

    On a serious note, I know it shouldn't, but when these top execs at APPLE sell-off large quantities of their stock portfolio, it always somehow undermines my confidence somewhat, in APPLE as a company. They're probably just only cashing out what they're allowed, as it matures, but nevertheless.

    There's always that nagging feeling, they know something we don't.
     
  20. macrumors P6

    IJ Reilly

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    #20
    Some people forget, or perhaps they never knew, that Tim Cook was running Apple for most of the last three years before Steve Jobs died.
     
  21. macrumors 68020

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    Southern California
    #21
    Here's a man who is a very intelligent seasoned executive. It's refreshing to read that he sold off the "ethical and right way", no doubt to suit his personal plans. All indicators are such that the "good old days" of Apple's mercurial stock performance are long gone.

    Oppenheimer is using his years of experience and general assessment of Apple to position himself to prevent being caught out, if Apple's share price takes another dive. At his age, the level of experience he possesses is priceless.
     
  22. macrumors P6

    IJ Reilly

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    #22
    The "ethical and right way" happens to be the only legal way for a top exec to sell their stock.

    I'm pretty sure "mercurial" is not the word you were seeking. It means unpredictable, or moody,
     
  23. macrumors 65816

    Joined:
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    #23
    He's a bean counter, boring and not at all innovative. Doubt there would be an iPad if Cook was actually running the company.
     
  24. macrumors P6

    IJ Reilly

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    #24
    He was actually running the company during Steve's long absences, and probably even more than we knew during his illness. Much of Apple's success in recent years is due to Cook's "bean counting" as COO. Is he the Sultan of Personal Cool like Steve was? No. Is he a great salesman like Steve was? No. But Steve Jobs was one of a kind, so it isn't exactly a useful comparison.
     
  25. macrumors 65816

    Joined:
    Oct 9, 2012
    #25
    Cook was an excellent lieutenant. He is not much of a general.
     

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