Apple SVP Phil Schiller sells nearly $20 million in company stock

By , Aug 16, 2013

Phil Schiller headshot

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.

aapl stock 502

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.

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  • Kurt

    That’s cool. I just sold $20 million in Apple stock too.

    • Bob

      I heard you sold your ass for $20 dollars.

    • SkyFall

      In other news Kurt a iDB reader and commentor sold 20 mil $ in Apple stock. We don’t know how he did it, but trust worthy sources tell us he borrowed the money from the Russian and Italian mafia.

      • Kurt

        Actually got it from private banks in Cyprus. Government locked down all bank accounts and gave 40-60 % to us Russian family members. Next stop, American banks!

  • Tyler

    and the dude still owes me $37

  • mav3rick

    OK. That’s why the bid turmoil in the market this week from some important players. AAPL stock overinflated, it went based on nothing than speculation from $420 to $500, now it’s time to make some money…

    • planetcoalition

      Just like when it went from $700 to $400 based on nothing than speculation… It amazes people to see how easily stocks can be manipulated.

      • mav3rick

        Their stock real value is around 400 mark or lower. 700 competing with Exxon was perfect unreal. Just watch what will happen in the next couple months after same stretched phone is re-launched this time with the sensor to collect your fingerprints but more, running the ugly bummer neonOS 7. Getting the popcorn…

  • Sam Khan

    Yep, there goes my hard earned money

  • Amad

    These guys are Muti millionaires.

    • Lagax

      Rather Billioairs.

    • Bob

      Did you just figure that out?

  • n0ahcruz3

    Better sell now before iphone announcement. Because AAPL is highly volatile right now. I have a gut feeling it will crash if the rumors were true, they will only add a finger print sensor on the new iphone with same camera, same ram, same screen size, same PPi, same design with a additional gold color. I cant wait for the next iphone commercial featuring a gold color lol.

    • Lagax

      I don’t think it’s gonna be the phone that people don’t like it’s gonna be the OS. iOS 7 looks almost as bad as Android to average consumers.

      • Mustang5Oh

        Actually numerous polls of consumers show that the average consumer overwhelmingly likes iOS7 looks wise more than iOS6. But glad to know that you think your opinion is the same as everyone elses opinion.

      • Lagax

        Actually the polls will be made by minimum 80% developers(of which let’s say min 70% are geeks). Geeks(like me too) like new things, cause they use electronic a lot. But if you used 6 & 7 for some time you will like 6 more even as a geek.

        And oh: show people in your family, friendship, etc. iOS 6 and seven(for example the MusicPlayer UI) and for me 6 of 6 people said iOS 6’s version looks WAYS better!

      • n0ahcruz3

        Last time i checked ios 7 was only out for the developers. So we dont know how people willreact to the new OS, but based on the reaction to the crowd watching the presentation i think its positive no? ios 6 was boring. Oh before ios 7 was even showed the stock was at below 390-400/share. Right now is above 500/share.

  • Rocky

    selling stock… does it mean share prices going down soon??

  • Burge

    Must be short of cash..

  • Mohammad Ridwan

    Remember when Scott Forstall sold his Stock and left Apple and everyone thought he was fired ?