Apple VP Sells 95% Of His Company Shares

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I don't know if I would have sold that much stock but damn, I don't think I could resist a $38.7 million payday either.

Taking advantage of Apple's (AAPL) relatively high (but not record) share price, the company's senior vice president for iOS software -- someone often mentioned as possible successor to Steve Jobs and Tim Cook -- sold 64,151 shares at prices ranging from $601 to $605 to clear $38.7 million in one day.
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Why not.

Now, if the stock splits in a week then he may have some 'splainin to do :)
 
TechLarry said:
Why not.

Now, if the stock splits in a week then he may have some 'splainin to do :)
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it would be worse for him. he could sell half and still have the same number of shares and roughly 19 million in cash.
 
He must be building a fancy house or something, doesn't seem like a great time to sell Apple stock but then again he'd know better than me.
 
95% of shares is a lot. Especially when most analysts still rate it a buy.
 
I hope he has a good accountant, his capital gains on his next tax return is going to crazy
 
mtbush said:
I hope he has a good accountant, his capital gains on his next tax return is going to crazy
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everybody rich doesn't collect paychecks as a "person" they have holding companies where they can ship the cash overseas with a nice and smooth transaction. Now he can easily head over to a place like the bahama's or costa rica and retire. there are MANY countries who will not tax you a dime on money you earn outside of their country. with the bahama's for examply you can become a citizen when you buy a $300k+ house and will then be entitled to bring the cash in tax free. Obviously there are a TON of ways to do things and it varies between countries. The corporations themselves like to stash their cash in a spot like spain.

Back when the .com bubbles were big I did very well so yes I looked very far into using such tactics. The us tax code is setup to where you only pay taxes on what you SPEND in the US for that year (when you're rich).

The rich live by different rules than we do. We're stupid enough to follow the "rules" and they're rich enough to hire people to tell them how to "bend" the rules.
 
Ya, but he will be receiving 400,000 more shares over the next couple of yearyears. At the current price of the stock those 400,000 shares would be worth more than $230MM
 
He changed his ring tone to Dave Chappel's "I'm rich biach" and announced to everyone that he was only working 3 days a week and taking extended lunches. When everyone looked at him in shock, he said "I lived through the Jobs years... so I have seen hell, what is the worst they can do, fire me?"
 
mkrohn said:
The rich live by different rules than we do. We're stupid enough to follow the "rules" and they're rich enough to hire people to tell them how to "bend" the rules.
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Which is why I laugh everytime I hear people demand that we "tax the rich" or "tax millionares". The more money you have, the easier it is to "game" the system. Someone who is living paycheck to paycheck doesn't have alot of options.

This is also why certian politicians like to define millionares as anyone making over $250,000 a year (or sometimes even less). It's people in the upper middle class that generally take the biggest hit on taxes, as they end up in the highest brackets, but don't make enough to afford experts to avoid the taxes.
 
Move along people, nothing to see here...he just needed some bettin' money for the Derby this weekend. :D
 
nakedhand said:
It´s an interesting message to send to shareholders and employees.
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A lot of people who have stock options will sell when their shares vest if the stock price rises. Plus he has 250,000 more shares he can cash in over the next 4 years.
 
stock splits don't change the value. and really where can apple go? Their QC appears to be slipping with the last ipad. What is going to be their next big thing? Their next direction?
 
nutzo said:
Which is why I laugh everytime I hear people demand that we "tax the rich" or "tax millionares". The more money you have, the easier it is to "game" the system. Someone who is living paycheck to paycheck doesn't have alot of options.

This is also why certian politicians like to define millionares as anyone making over $250,000 a year (or sometimes even less). It's people in the upper middle class that generally take the biggest hit on taxes, as they end up in the highest brackets, but don't make enough to afford experts to avoid the taxes.
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for those middle middle class to upper middle class about all they can do is quit spending so much and make sure they max every tax deferment program possible. There are always ways to defer money as long as you can cut back what you're spending. Corporation assets even... Boats, all kinds of fun stuff you just take friends/clients out on whatever toy you want to have.
 
heatlesssun said:
He must be building a fancy house or something, doesn't seem like a great time to sell Apple stock but then again he'd know better than me.
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Actually, if people were saying he was a possible successor to Steve Jobs, he might very well be leaving the company. Seeing as how Jobs' successor has already been chosen, he might be leaving for greener pastures. If he's leaving, then selling his shares isn't that unusual.
 
That about $166,094.42 a day to spend, then the world ends on 12/21 :eek:

Maybe he is going to party his ass off ? :D
 
nutzo said:
Which is why I laugh everytime I hear people demand that we "tax the rich" or "tax millionares". The more money you have, the easier it is to "game" the system. Someone who is living paycheck to paycheck doesn't have alot of options.

This is also why certian politicians like to define millionares as anyone making over $250,000 a year (or sometimes even less). It's people in the upper middle class that generally take the biggest hit on taxes, as they end up in the highest brackets, but don't make enough to afford experts to avoid the taxes.
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You have to figure out hwy that someone is living paycheck to paycheck. I bet that person has some personal responsibility for the situation s/he's in. And what upper middle class person can't afford a good financial advisor. I just got some free advice on this very thread that I can further investigate on my own. =/

Personally I have a je... an account on retainer that holds me down for my money and I'm barely middle class and that's only because I have no kids or wife yet.
 
*sigh* I really wish I would remember to re-read my posts before I submit them. *accountant*
 
XamediX said:
You have to figure out hwy that someone is living paycheck to paycheck. I bet that person has some personal responsibility for the situation s/he's in. And what upper middle class person can't afford a good financial advisor. I just got some free advice on this very thread that I can further investigate on my own. =/
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I believe anybody smoking cigarettes should be banned from ANY public benefits and if they're buying beer/booze on the same receipt as food stamps CUT OFFF these places like papa murphy's that accept food stamps is a shame.

My wifes off work right now with our newborn and I'm a full time college student. Budgeting and not wasting money is something every paycheck to paycheck person needs to really work on.

To get on food stamps everybody should have to take classes on budgeting and money management. It would be for their own good. (we're on food stamps + pell grant is paying for my school)
 
Sold his share to take advantage of long term capital gains tax loopholes that only taxes him at 15% instead of 35% before they jump to 20% in 2013. Rich people just doing what rich people do... making sure they stay rich :D
 
sfsuphysics said:
Sold his share to take advantage of long term capital gains tax loopholes that only taxes him at 15% instead of 35% before they jump to 20% in 2013. Rich people just doing what rich people do... making sure they stay rich :D
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Nothing wrong with them wanting to keep more of the money they earned. What strikes me as odd is that this guy, if he's anything like Steve Jobs and other Apple bigwigs, likely voted for Obama, the man whose party wants to increase not just capital gains taxes but taxes overall, especially for those who've achieved some measure of financial success.
 
I think he sees the writing on the wall. Apple has had a great string of successes, but, let's be honest, nothing good lasts forever. Maybe he's looking at the upcoming projects and thinking they won't be as lucrative as past ones.
 
I'd probably give most of it to the salvation army or something because with that kind of money I'd probably be dead in a month. After I bought 365 pairs of socks and underwear and a $20,000 desktop though. Maybe some little debbie snacks too...
 
Deadly Ramon said:
Nothing wrong with them wanting to keep more of the money they earned. What strikes me as odd is that this guy, if he's anything like Steve Jobs and other Apple bigwigs, likely voted for Obama, the man whose party wants to increase not just capital gains taxes but taxes overall, especially for those who've achieved some measure of financial success.
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Earned... LOL
 
mobhill said:
I think he sees the writing on the wall. Apple has had a great string of successes, but, let's be honest, nothing good lasts forever. Maybe he's looking at the upcoming projects and thinking they won't be as lucrative as past ones.
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I think he wants to buy a $30M house ;). Apparently he has a lot of stock coming his way if he continues to stay at the company (I'm sure he will given which department he's in charge of).
 
mkrohn said:
I believe anybody smoking cigarettes should be banned from ANY public benefits and if they're buying beer/booze on the same receipt as food stamps CUT OFFF these places like papa murphy's that accept food stamps is a shame.

My wifes off work right now with our newborn and I'm a full time college student. Budgeting and not wasting money is something every paycheck to paycheck person needs to really work on.

To get on food stamps everybody should have to take classes on budgeting and money management. It would be for their own good. (we're on food stamps + pell grant is paying for my school)
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I smoke. I drink about a sixer or two a week. I'm a full time college student. I work two jobs. I receive a very small food stamp allowance. I have three children. My wife works. I pay a mortgage. It's a ten year mortgage because I got it when I made more money. I haven't bought tobacco in almost two years because I stock piled. If I didn't get food stamps because of drinking beer I'd not drink any beer because the $12 a week or less doesn't compare to the money I get from food stamps. I don't go to the movies or have netflix or anything like that. When I'm not at school, or working I'm with my family. I don't think I need to take classes on budgeting but I would if everyone else had to. I live with next to nothing. Honestly my ISP bill is my greatest expense since we commute by bicycle, grow/pickle as much food as we can, don't really heat the house and it's super insulated and just basically just live simply because we think it's the right thing to do and it makes us happier people.

Congratulations on your new child. Children are one of the greatest blessings I've ever had and I wish the same for you. Also congratulations on having a wife who you can work with. Children are a great joy but having a wife you work well with is, in my opinion, one of the greatest miracles the world has ever produced. Take the lessons you are learning in frugality and never forget them, even if you make a fortune in the future.
 
Deadly Ramon said:
Nothing wrong with them wanting to keep more of the money they earned. What strikes me as odd is that this guy, if he's anything like Steve Jobs and other Apple bigwigs, likely voted for Obama, the man whose party wants to increase not just capital gains taxes but taxes overall, especially for those who've achieved some measure of financial success.
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Nothing wrong with him wanting to do that at all.

However what does who he votes for dictate what he does money wise? IMO long term capital gains needs to be taxed as if it was ordinary income there is no justifiable reason why it is not. And yeah it is a tax shelter for the rich because everyday Joes like you and me can in no way get paid millions of dollars of fake paper only to cash them in when all is good, and even if we did buy some of said fake paper unless you have millions of dollars worth you don't get anywhere close to the tax break as he does.

That all said yeah if I got a million in stock from Apple for working there and could cash that in for 15% tax rate over a 35% tax rate damn straight I would. Just because I don't like the system doesn't mean that I won't try to exploit as much as everyone else does :)
 
heatlesssun said:
He must be building a fancy house or something, doesn't seem like a great time to sell Apple stock but then again he'd know better than me.
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diversification? Doesn't seem good to hold all your eggs in one basket (if apple has problems, he might not have a job + his shares will be worth $0)

if he's in the senior management (looks to be), he could only designate a certain time to sell certain amounts of shares (otherwise he could dump them just before announcing a bad quarter, things that he might be privy to)
 
jiminator said:
stock splits don't change the value. and really where can apple go? Their QC appears to be slipping with the last ipad. What is going to be their next big thing? Their next direction?
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who knows.

but I know this for sure........ Lenovo, motorola, Acer, Asus, and others will just copy.
these guys are always followers.

Ipad outsells all of them combined, many times over.

it's sad, really.

I wish those other companies would innovate
 
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