Luca Maestri, Apple CFO, has just sold no less than 96,376 Apple shares for an estimated amount of $16.9 million, which is equivalent to16.83 million eurosapproximately. As is required in this type of large-scale movement, the manager had to justify this to the SEC (US Securities and Exchange Commission, equivalent of the French Financial Markets Authority in the United States) in a dedicated file.
We don't learn much, except that the transaction was carried out by a broker onAugust 17last, a little more than two weeks after the announcement of thelatest financial results of the apple firm. On this occasion, the incredible number of 83 billion dollars was announced for the period from April to June.
Nothing surprising
In reality, this move by Maestri is not surprising: we know that other executive positions at Apple have the possibility ofunlock stock optionsafter some time spent in the company. The amount of the titles in question not only depends on seniority, but can also be calculated based on performance. However, we know that the latter have been explosive over the last ten years in Cupertino.
After this sale, the number one Apple account still has more than110,000 AAPL shares in reserve, or approximately 18.79 million euros at the current exchange rate. Of course, as long as these assets are not converted, their sum remains virtual money that Maestri cannot spend immediately.
A high-flying position
Luca Maestri, born in Italy and trained at Boston University, joined Apple in 2013, after working at the automobile manufacturer General Motors, at Nokia and at Xerox.Under the direct orders of Tim Cook, its role is to plan the future expenses of the iPhone manufacturer while controlling thefinancial growth, treasury, real estate as well as company audits. His average salary is around $25 million per year according to the most recent data.
i-nfo.fr - Official iPhon.fr app
By : Keleops AG
