Apple hardware VP sells 99% of AAPL holdings Apple's senior vice president of Mac and iPhone hardware engineering, Bob Mansfield, has sold 99% of his Apple holdings, leaving him with only 501 shares left. The news comes from a recent SEC Form 4 filing which lists Mansfield selling 38,863 shares of AAPL at $351.89 each; total proceeds from the sale are in excess of $13.6 million.
There are two things to take away from Mansfield's sale:
1. It in no way reflects his belief in the future of the company. Mansfield is just a smart investor. Sell high, buy back low. That's just his style and always has been. Plus he gets the usual 15% off employee stock purchase plan shares when he does buy through the ESPP.
2. Don't feel sorry for Mansfield because he only has 501 shares left. He's still got a fully vested option to buy 30,000 shares of AAPL at $36.54 -- that's a discount of almost 90% on today's prices -- and he also has 100,000 restricted stock units that will fully vest in 2014.
Drinks are on Bob at WWDC, everyone.
[via Apple 2.0]Apple hardware VP sells 99% of AAPL holdings originally appeared on TUAW on Wed, 27 Apr 2011 16:00:00 EST. Please see our terms for use of feeds.Source | Permalink | Email this | Comments
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