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

[Juniper747]

Makes sense, right before the election. Market gets all funny after elections.

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

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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

hhdhd

 

[newyorkone]

"Eddie, you are the weakest link."

 

[Nick11Mac]

Can't imagine that kind of money, nor figure out his real motivations. Perhaps some internal squabble, or who knows what.

 

[wigby]

Apple is diluting the power of its brand by not offering or updating a wide range of Macs to suit various users (Mac Pro, Mac Mini, iMac) and acting like Scrooge McDuck on everything.

Apple without a strong Mac Mac ecosystem is going to stagnate at best and struggle/go backwards at worst.

They are appealing to many more users now than they used to. It's just that the entire PC market is down with Apple losing the least. Do you really think they need to appeal to 5% of pros out there whining? The other 95% of pros are happy with the new laptops.

 

[BreadofWonder]

Great... I own more Apple stock than Eddie Cue.

I wish I was that rich....

 

[JosephAW]

How many shares were sold in the last year by the apple employees?

 

[Michael Scrip]

If you knew a super-cycle impressive upgrade-worthy phone was coming in less than a year? You'd sell nearly all of your stock?

Maybe he actually gets so much stock each year that it he'll have a ton again soon, but...

Makes me nervous to be holding more AAPL shares than Eddy.

Again... I don't think he's selling his stock because he's scared.

He gets stock along with his salary... and every few years he's allow to sell it.

I'm assuming this is how it's done at the executive level. Not just at Apple... but at all major corporations.

 

[gtg465x]

When RSUs vest, you usually have to sell them within a certain period of time, like 7 years as an example. So he would have to sell them sometime in the relatively near future regardless, and if your company has been doing really well in the stock market for quite a while and the market has been relatively up for a while, it really doesn't make sense to hold on to RSUs after they vest. Also, unlike stock options, you pay taxes on RSUs as soon as they vest, regardless of whether you sell them or not. It can be dangerous if a huge number of RSUs vest and you don't sell because say the RSUs are worth $1,000,000, you will pay around $450,000 in taxes on them when they vest. If you hold on to them and don't sell right away, and then the stock market crashes and the RSUs you were holding on to are now only worth 100,000, well then you just paid far more in taxes than you even got!

 

[Ghost31]

But can he afford the new MacBook?

 

[macpro2000]

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

Damn, I have more than 1500 shares. Wth?

 

[ronnieb9580]

He just needed it to buy a dongle and headphone jack converter

 

[Rogifan]

Gotta love the stupidity in stock threads. MR never fails.

 

[jdillings]

Did the stock come with free dongles?

 

[canadianpj]

Hard hitting journalism about what executives do all the time is riveting. Keep it up!

 

[puckhead193]

Great... I own more Apple stock than Eddie Cue.

Maybe you can get on the board and do some shake ups and make a few updates to products

 

[Christian 5G]

He knows whats coming

 

[Cole Slaw]

 

[btrach144]

it's like he knows something....

if he knew something and sold stock off of this knowledge, the SEC would charge him with insider trading. When executives make large dumps like this, they typically have to inform the SEC months in advance and pick a random date.

 

[44267547]

if he knew something and sold stock off of this knowledge, the SEC would charge him with insider trading. When executives make large dumps like this, they typically have to inform the SEC months in advance and pick a random date.

That's interesting. I wasn't aware of this. And who truly knows his reason for selling out. Only one can speculate.

 

[C DM]

That's interesting. I wasn't aware of this. And who truly knows his reason for selling out. Only one can speculate.

Most of those commenting either don't know or care about that rather important fact, a fact which puts it all in quite a different perspective. Petty much how it almost always goes with those types of stock sale articles. The reality doesn't fit in with trying to come up with "clever" jabs at this or that, so it mostly just gets ignored (on purpose or not).

 

[44267547]

Most of those commenting either don't know or care about that rather important fact, a fact which puts it all in quite a different perspective. Petty much how it almost always goes with those types of stock sale articles. The reality doesn't fit in with trying to come up with "clever" jabs at this or that, so it mostly just gets ignored (on purpose or not).

I'm guessing most don't have a general understanding of how selling company stock officlally works and when you mix in Eddy Cue's name, the article gets lost in translation with Apple Watch band comments or Dongle derogatives.

 

[sbuttler77]

-

 

[timborama]

Cue, and all the other execs have plenty more RSUs coming down the pipeline.

Is that the magical pipeline Cook keeps talking about?

 

[544263]

it's like he knows something....

Dude, we all know it. ;-)
[doublepost=1478336299][/doublepost]

Great... I own more Apple stock than Eddie Cue.

So he is more clever? He sold it before it's going down further ;-) (This is just joking around, of course)
[doublepost=1478336607][/doublepost]

But can he afford the new MacBook?

I bet he can. But does he want it ?

 

[Ghost31]

I bet he can. But does he want it ?

Oh god dude. How funny would it be if we found out he used a dell xps. And when confronted about it, forgot to have a good excuse. Saying something like "what? I needed ports! How else am I gonna load the slides for the new MacBook keynote?"