updated 04:40 pm EDT, Wed April 27, 2011
Hardware VP a regular Apple trader
Apple's senior VP of hardware, Bob Mansfield, has made his largest-ever sale of Apple stock, an SEC Form 4 filing reveals. On Monday Mansfield is reported to have sold 38,863 shares of company stock, each worth $351.89 at the time. The deal returned $13,675,504.96, leaving just 501 Apple shares in his holdings.
Mansfield has traded Apple stock frequently when compared with other executives at the company. During the last three years he has sold almost $58.5 million worth of investments, taking home $37.9 million after taxes. The VP is known to regularly buy and sell as Apple shares hit valleys and peaks; during buying phases he has the additional advantage of a 15 percent employee discount.
The executive is believed to have strong incentive to stay with his current bosses. He has fully-vested options to buy 30,000 shares at $36.54 each, and 100,000 RSUs (restricted stock units) with a strike price of zero, which will vest in 2014. The company is also riding high on Mac and iPhone hardware, which Mansfield is directly responsible for.