Apple’s Senior Vice President of Worldwide Marketing Phil Schiller became $20 million richer today, according to documents filed with the SEC. The papers show that Schiller cashed in a ton of Apple stock for more than $18 million in cash.
In all, Schiller sold a total of 37,172 shares of common stock at a price of $500 for a total haul of $18.6 million. That’s almost exactly half of his 75,000 shares that vested in June, which was half of the 150,000 share bonus he received last fall…
Interestingly enough, Apple’s Senior Vice President of Hardware Engineering Dan Riccio also unloaded some stock today. His pay day, though, was much smaller than Schiller’s, selling off 3,754 shares of common stock for $1.9 million in cash.
The big selloffs come three weeks after CFO Peter Oppenheimer AAPL share sell, which came in at a much lower premium. Three weeks ago, the stock was sitting at $420, and earlier this week, it crossed the $500 mark for the first time since January.
Don’t worry though, these selloffs don’t mean anyone is leaving the company or worried about its future. Schiller, Jony Ive, and a number of other Apple executives still have hundreds of thousands of unvested shares that won’t be ready until 2016.