Apple (AAPL) SVP Eddy Cue Cashes in $8.8 Million in Stock

By Dec 5, 2012, 6:59 AM Author's Blog  

After last week’s news that Apple (AAPL) veteran Bob Mansfield sold 35,000 AAPL shares worth some $20.38 million, we’re now learning that Eddy Cue, Apple’s Senior Vice Precident of Internet Software and Services, has sold a significant quantity of AAPL stock.

According to a recent regulatory filing with the SEC, first spotted by CNet, Cue sold 15,000 shares of stock on November 30th, at prices ranging from $583.86 to $584.22, for a total profit of $8.76 million.

Is worth noting that the stock Cue cashed in isn’t a part of an award of 100,000 shares of AAPL stock in the form of restricted stock units [RSUs] he received on September 2, 2011, as a bonus for his promotion to SVP. These units will vest in two equal portions in August 2013 and August 2015, granted Cue stays with the company.

Like a number of other Apple execs, such as Jony Ive and Tim Cook, Cue, who most recently was put in charge of Siri and Apple’s infamous mapping system, is likely selling the shares to avoid the U.S. government’s pinch on capital gains tax in fiscal 2013.

Cue has been with Apple for 23 years now and some of the things he has been involved in include, the launch of iTunes on January 2001, the launch of App Store on July 2008 and that of iCloud on October 2011.

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