Apple SVP Bob Mansfield Sells Off 99% of AAPL Shares

Discussion in 'Mac Blog Discussion' started by MacRumors, Apr 27, 2011.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Fortune notes that Apple senior vice president of hardware engineering Bob Mansfield sold off 99% of his Apple stock holdings on Monday, dropping his stake in the company to only 501 shares.One of the more pro-active traders is Bob Mansfield, Apple's senior vice president in charge of Mac and iPhone hardware engineering. Not only does he exercise his options when the stock is high -- always a good idea -- but he picks up extra shares at the 15% employee discount when the stock is down.

    On Monday, according to an SEC Form 4 filed yesterday, he executed his biggest trade yet, selling 38,863 shares of Apple at $351.89 each, clearing $13,675,504.96 in the deal and leaving only 501 shares in his portfolio.Mansfield still holds vested options for another 30,000 shares and will be granted an additional 100,000 shares in 2014 should he stay with company, meaning that he still has a significant stake in the company even though he has converted almost all of his most liquid Apple assets into cash.

    The report notes that Mansfield has sold off nearly $58.5 million worth of Apple stock over the past three years, strategically exercising options and selling off his holdings for solid profits and buying in on stock price dips to maximize his returns. Mansfield has been at Apple since 1999.

    Article Link: Apple SVP Bob Mansfield Sells Off 99% of AAPL Shares
  2. markfc macrumors 6502a


    Sep 18, 2006
    Prestatyn, Wales, UK
    Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_3_2 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8H7 Safari/6533.18.5)

    Fair do's to the guy!
  3. hobo.hopkins macrumors 6502a


    Jul 30, 2008
    Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_6 like Mac OS X; en-gb) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8E200 Safari/6533.18.5)

    Damn that is a lot of money.
  4. Ieo macrumors 6502

    Jun 17, 2009
    Don't you see? This is a sign!

    We're all gonna die!
  5. La Porta macrumors regular

    La Porta

    Dec 15, 2006
    Wirelessly posted (Mozilla/5.0 (iPod; U; CPU iPhone OS 4_3_2 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8H7 Safari/6533.18.5)

    Man, good for him!
  6. dacapo macrumors 6502

    Jan 25, 2010
    Normally this would send a stock tanking, but if this guy has been pretty consistently doing this with his options/shares, then it's not really news, and share prices shouldn't be affected by this.

    I suspect the article is just highlighting this pattern with Bob Mansfield so that no one gets the wrong idea.
  7. Yebot macrumors 6502


    Jan 6, 2004
  8. carmenodie macrumors 6502a

    Apr 25, 2008
    Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_3 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8F190 Safari/6533.18.5)

    Hell yeah!!
    Go Bob! Go Bob!
    It's yo birthday! It's yo birthday!
    Srrrrrcub the ground!
    As long as Apple keeps making killer tech I'll buy it no matter what!
  9. DCstewieG macrumors member


    Jun 30, 2008
    I'd be happy with 10 shares coming to me in 3 years. 100,000!!
  10. fishmoose macrumors 68000

    Jul 1, 2008
    Maybe he's leaving and is expecting Apple to go to **** after he leaves :eek:
  11. ciTiger macrumors 6502a


    Jan 25, 2011
    Portugal (Porto)
  12. GFLPraxis macrumors 604


    Mar 17, 2004
  13. Doctor Q Administrator

    Doctor Q

    Staff Member

    Sep 19, 2002
    Los Angeles
    It's never smart to keep your investment in your employer's stock, although it sounds like his purpose is to time the market, not avoid the "Enron problem".
  14. ehoui macrumors regular

    Jan 27, 2011
    Should barely be enough to pick up the next lunch bill at Miyakes.
  15. rufwork, Apr 27, 2011
    Last edited: Apr 27, 2011

    rufwork macrumors regular

    Aug 5, 2003
    I'm going to hope this is a ~$350 triggered trade. I considered doing as much (setting a hard price near pre-leave levels at which I'd sell) after the price drop when Jobs went on his current/second leave. If Jobs were to become incapacitated, I can't imagine what would happen to the stock price, deserved or not. Selling now that AAPL's nearly back to pre-Jobsian levels is just smart. Reduces exposure. Puts the bird in the hand, etc.

    But this also tells us Mansfield thinks there's no safer time to sell between now and his next option. I understand $350 being "good enough", but when your hardware guy doesn't see a reason to stick around, that's bad news. I mean, he can't help but be doing a little insider trading, right?

    This is likely A Bad Thing for AAPL owners, and can be no better than A Neutral Thing, and the latter only if Mansfield isn't real bright, which we know isn't the case. How close we are to the former rather than the latter would seem to be at least partially correlated with Mansfield's business acumen.
  16. Small White Car macrumors G4

    Small White Car

    Aug 29, 2006
    Washington DC
    He looks like a horse race better to me.

    You know how it is. You spend all day at the track and end up $13 million in the hole...your bookie's gonna cap your you gotta sell your stock.

    Same ol' same ol'.
  17. dr Dunkel macrumors regular

    Nov 3, 2008
    So, not expecting the market to fanfare the new iMacs, are we ;)
  18. LightSpeed1 macrumors 6502a


    Jul 13, 2009
    Washington D.C.
  19. cameronjpu macrumors 65816

    Aug 24, 2007
    Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)

    No, a share sale this tiny by a minor executive would not send any stock tanking.
  20. rdowns macrumors Penryn


    Jul 11, 2003
    Did you read the article?

    It's not like he decided to dump all his shares. You can't make money unless you sell your shares.
  21. dwman macrumors 6502


    Nov 15, 2007
    San Francisco
    $58M worth of stock. The man is living large.
  22. koruki macrumors 65816


    Aug 16, 2009
    New Zealand
  23. addicted44 macrumors 6502a

    Jun 6, 2005
    It legally has to be. Well, not triggered by price, necessarily, but it had to be declared either well in advance, or triggered by some other pattern. Otherwise it would be insider trading.
  24. URFloorMatt macrumors 6502

    Jul 4, 2010
    Washington, D.C.
    No. SEC regulation forbids this. Mansfield makes his stock sales pursuant to a pre-established 10b5-1 plan, likely initiated months before the first sale he ever made (but, as you suggest, this most recent sale could have been triggered by the stock hitting $350).

    Given the options that stand to mature into another 130,000 shares in the next three years, best not to put all his eggs in one basket. Cash is always king.
  25. Chupa Chupa macrumors G5

    Chupa Chupa

    Jul 16, 2002

    You are grossly predicting the reason he is selling. Are you a soothsayer? There are plenty of other reasons to sell that have zero to do with Apple's business prospects or his own at Apple. It could be fear of a cap gain increase in 2012, or the need to get into cash for personal reasons, or a desire to diversify his portfolio or a million other things. This sale tells us only one thing for sure: that he sold a lot of stock.

Share This Page

75 April 27, 2011