Apple Execs in Stock Sell Off

Apple executives have sold shares under prearranged plans, recent regulatory filings confirm.

Apple's senior vice president of Worldwide Product Marketing, Phil Schiller has sold 136,341 shares of common stock for US$170.75 to $173.76 apiece, raising $23,485,000. Senior vice president of Software Engineering, Bertrand Serlet, also sold shares for around the same price, 10,000 in all netting $1,706,000.

Both sales were prearranged under a U.S. regulatory model which allows a company insider to set up a schedule in advance for stock sales and then proceed with them even if he or she comes into possession of material non-public information.

 

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