A wave of share-sales have taken place in recent days as Apple executives liquidize some holdings and exercise new options.
Apple insiders on record as per US Securities and Exchange regulations for selling company stock include Apple's senior vice president of hardware engineering, Jon Rubinstein; Apple's executive VP worldwide sales and operations, Timothy Cook; Apple's outgoing CFO and executive board member, Fred Anderson; Apple's senior vice president of worldwide product marketing, Phil Schiller; Apple's senior vice president of applications, Sina Tamaddon; and Apple's senior vice president and general counsel, Nancy Heinen.
Information available online shows the sales took place between April 19 and 22 and consist of a combination of automatic sales, options exercises and sales of personally held stock. Some executives seemingly sold stock in order to use the yield to exercise share options.
Rubinstein, for example, sold a number of shares with proceeds of $14,784,300. He also exercised options to buy shares at a cost of $3,825,642.
Overall, the value of the executive teams share transactions added up to $46 million.