Apple SVP Bob Mansfield Cashes in $20 Million of AAPL Stock
Apple SVP Bob Mansfield has cashed in 35,000 shares of his AAPL stock at $582.21 a share for a total of $20,377,507.50, reports TNW.
Mansfield was awarded options on stock in 2005, which fully vested in 2009. He let go of some early this year at a price of $452, and this marks the second big batch so far. Mansfield is still in posession of 29,548 shares and stands to take possession of another 150,000 shares in June of 2013 and March of 2016 if he stays with the company. The values of the shares cashed in today run from $582.00 to $582.88 so the above price is a weighted average.
Mansfield is currently the Apple Senior Vice President of Technologies. On June 28, his retirement from Apple was announced; however, it's said several senior engineers on his team vociferously complained over Dan Riccio as his replacement. Then in August it was announced that he would stay on to work on future projects. In October the company announced that Mansfield had been appointed to SVP Technologies.