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

MacRumors

macrumors bot
Original poster
Apr 12, 2001
49,563
10,870



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
 

mbh

macrumors 6502
Jul 18, 2002
400
73
ship is sinking?
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

macrumors 68020
Mar 10, 2007
2,096
2,559
Kassel, Germany
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.
Hear, hear.

Cure the doomsayers anyways...



edit:

Too late...
ship is sinking?
apple is doomed!!
Glassed Silver:mac
 

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

macrumors 6502
Mar 27, 2003
326
4
Roseville, Ca
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.
A good primer on Restricted Stock: http://wiki.fool.com/The_Tax_Implications_of_Selling_Restricted_Stock
 

Vanilla35

macrumors 68040
Apr 11, 2013
3,310
1,335
Washington D.C.
Better cash out now before it sinks back down to $350 after the 5S is released

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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.
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.
 

Mackan

macrumors 65816
Sep 16, 2007
1,373
48
It would be nice if MacRumors would write up some boilerplate to tack on to these stories to explain this.
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
 

mbh

macrumors 6502
Jul 18, 2002
400
73
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
And yet you not only read this story, but commented on it. :rolleyes:
 

runsfromzombies

macrumors newbie
May 1, 2013
9
3
The Sunshine State
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.
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

Suspended
Oct 12, 2007
1,449
244
most all the top execs. a Apple are dumping large quantities of their stock...NOT A GOOD SIGN AT ALL.

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

Vanilla35

macrumors 68040
Apr 11, 2013
3,310
1,335
Washington D.C.
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.
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

macrumors G3
Nov 26, 2007
8,832
4,574
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
God damn investors believing in startups and funding them. Why can't we live in a world where only government approved projects are funded?
 

clibinarius

macrumors 6502a
Aug 26, 2010
667
62
NY
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.
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

macrumors G3
May 25, 2008
8,332
199
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.
Another metal*
 

donutbagel

macrumors 6502a
Jun 9, 2013
932
0
No thanks. The less I hear about stocks and the disgusting stock market the better. Humanity should be ashamed over this world engine.
Someone's sour over a loss.

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

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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.
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

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:

chocolaterabbit

macrumors regular
Nov 2, 2008
211
24
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.)
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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