Last Friday we reported on a new SEC filing from Apple which relayed that Apple's Board of Directors tweaked Tim Cook's compensation package by adding a performance metric to his stock options.
In addition, there were a number of other SEC filings from Apple which disclosed that a number of top executives sold millions of dollars' worth of Apple shares that had recently vested.
Here's the breakdown:
- Apple CEO Tim Cook sold 41,391 shares for $17,115,178.50
- Jeffrey Williams sold 38,181 shares for $15,787,843.50
- Bob Mansfield sold 14,465 shares for $5,981,277.50
- CFO Peter Oppenheimer sold 37,828 shares for $15,641,878
- Phil Schiller sold 37,878 shares for $16,287,540
- Bruce Sewell sold 37,828 shares for $15,641,878
Apple investors, however, shouldn't be worried that Apple's executive team is losing faith in the company. Keep in mind that the shares above were originally part of an allotment granted back in November 2011 with two vesting dates. The first one was on June 21, 2013 and the second is set for March 21, 2016.
In other words, it's business as usual.