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Apple Execs Unloaded $143 Million In Stock In September

Apple Execs Unloaded $143 Million In Stock In September
[Photo: Flickr user Paul]

Five Apple executives reaped big gains in September, and it wasn’t due to sales of its new bendy iPhones or excitement about the upcoming Apple Watch.

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Barrons reports that five insiders, including CEO Tim Cook, unloaded $143 million in stock between Sept. 5 and 22. (The Apple product launch event, at which Cook announced the iPhone 6, iPhone 6 Plus, and Apple Watch, was September 9.) They sold their shares through 10b5-1 planned sales, a Securities Exchange Commission rule that allows executives to set up trading plans to sell stock they own and avoid accusations of insider trading.

According to the report:

  • Cook sold 348,425 shares for $35,250,297 (average share price of $101.16). He has a remaining stake of 950,767 shares, or less than 1%.
  • Senior vice president of operations Jeffrey E. Williams sold 348,846 shares for $35,233,446.
  • Bruce D. Sewell, general counsel and senior vice president of legal and government affairs, sold 348,846 shares for $35,393,915.
  • Senior vice president of worldwide marketing Phil Schiller sold 348,846 shares for $35,256,000.
  • Chief financial officer Luca Maestri sold all 16,374 shares he owned for $1,631,286.
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