Apple's Eddy Cue Sells More Than $37 Million Worth of Stock

[MacRumors]

Apple iTunes chief Eddy Cue brought in quite a bit of money this week, according to documents filed with the United States Securities and Exchange Commission. Cue cashed in 335,000 Apple shares at an average price of $111.86, netting himself $37,473,100.

Cue's windfall follows the September vesting of 525,000 restricted stock units, which were worth approximately $59.6 million at the time. The shares represented the final 75 percent of the 100,000 restricted stock units Cue was awarded in November of 2011, which became 700,000 RSU's after Apple's 7-for-1 split in 2014. The first 25 percent of Cue's RSUs vested two years ago, on September 21, 2014.

Cue put his full September award of 268,695 shares after taxes into a family trust, which is also what he has done with the 335,000 shares that were cashed in this week. Following the transaction, Eddy Cue continues to hold 1,464 shares of Apple stock.

Apple SVP of hardware engineering Dan Riccio has also cashed in 33,323 shares worth between $110.09 and $110.90, netting 3,677,115.

Article Link: Apple's Eddy Cue Sells More Than $37 Million Worth of Stock

 

[afd]

That's what it takes to buy a new maxed out, MacBook Pro....

 

[Richardgm]

All the execs are dumping their holdings.

 

[Soni Sanjay]

He is investing in Microsoft now, smart move, Cue.

 

[thats all folks]

it's like he knows something....

 

[bgro]

Way to be continued to be vested in the company. Keeping 1500 shares atta boy

 

[ip67]

All the execs are dumping their holdings.

And putting all their dongles in one basket.

 

[btbam91]

And putting all their dongles in one basket.

This made me LOL

 

[ThaRuler]

This guy gets my vote for most overrated Apple exec

 

[d4rkc4sm]

Lack of vision and innovation points to major internal problems at Apple. Before the flood...

 

[mr.steevo]

" Apple is like a ship with a big hole in it filling with water and my job is to point it in the right direction. "

 

[44267547]

That picture of him shows how content he is with his cash settlement.

 

[D.T.]

He'll definitely be able to pick up a few cars with doors that open like this ...

 

[Floris]

Smart move, sell now, wait with the rest until it climbs back up from that dip again next wwdc.

 

[Karma*Police]

This guy gets my vote for most overrated Apple exec

I disagree. No one thinks he's any good which makes it hard to be overrated.

 

[Dilster3k]

I WONDER WHY???

 

[4God]

I WONDER WHY???

 

[TMRJIJ]

Wow... you guys act like this is the first time an Apple Executive cashed out stock.

 

[swajames]

Wow... you guys act like this is the first time an Apple Executive cashed out stock.

I believe it's more because of who it is, not what they did.

And I agree. For me Cue is easily the weakest link in Apple's leadership team.

 

[Kaibelf]

Wow... you guys act like this is the first time an Apple Executive cashed out stock.

They also likely don't own stock or don't know a thing about diversifying. The same people point and laugh when people invest as the market tanks, and claim the cash in their coffee can is safer. Then a few years later they whine about how they have nothing to fall back on.

 

[Nefilim]

All the execs are dumping their holdings.

Are they really?

 

[smacrumon]

Apple, seriously?

 

[TMRJIJ]

Isn't Christmas around the corner? Clearly this man prefers the Benjamins over shares as a present.

 

[Rey Esposito]

Lmao this wouldn't be a first, I love all the speculation that occurs over the stocks. This doesn't mean anything, except Eddy needed some more cashola for whatever crazy rich people stuff he's buying/dealing with.

 

[Jgreg00]

Cue, and all the other execs have plenty more RSUs coming down the pipeline. The next set vests in 2019, 2020, and 2021 for example. Any reasonably savvy investor would diversify similarly...