Apple hardware VP sells 99% of AAPL holdings
Apple's senior vice president of Mac and iPhone hardware engineering, Bob Mansfield, has sold 99 percent of his Apple holdings, leaving him with only 501 shares. The news comes from a recent SEC Form 4 filing, which lists Mansfield as 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 percent 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 percent 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]
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