Luca Maestri, Apple’s chief financial officer, recently sold some of its shares worth $16.9 million.
An SEC filing reports how Maestri completed the transaction and was a planned settlement. There were two sales of Apple stock: one traded 30,345 shares for $175.60 each and the other traded 66,390 shares for $174.66 each. On August 17, Maestri sold a total of 96,735 shares and was confirmed by Sam Whittington, Maestri’s de facto attorney.
The sale will cost quite a few shares related to Maestri’s total ownership. The Apple CFO still owns 110,673 Apple stock, which works out to about $18.9 million if each share is worth $171.52. The trading plan was prearranged – Maestri submitted the report on November 16, 2020 and amended it on February 26, 2021. The long delay makes trading legitimate and not due to a recent trend or reaction to an event.