Apple’s Bob Mansfield, senior vice president of the newly created Technologies role at Apple, has cashed in more than US$20 million worth of Apple shares.
Mansfield sold 35,000 AAPL shares, which, based on the closing price on 28 November, ($582.94) would be worth around US$20,402,900.
The sell off was revealed in a Securities and Exchange Commission filing.
Mansfield was awarded this particular batch of stock in 2005 and it vested in 2009. This is the second time Mansfield has cashed in AAPL stock this year but he still owns 29,548 shares and will take possession of another 150,000 shares in June 2013 and March 2016 if he stays with the company, reports MacRumors.
Mansfield has been with Apple for 13 years, having joined the company in 1999 when it acquired graphics chip manufacturer Raycer. Mansfield was Apple’s VP of Hardware Engineering before he retired in June (age 51), but he then returned in an advisor role just eight weeks later after Apple CEO Tim Cook was said to have made him an “offer he couldn’t refuse”. Then following the ousting of Scott Forstall, Cook announced that Mansfield would be staying at Apple in the new position of senior vice president of Technologies.
Reports claim that Forstall was ‘fired’ in a deal that paved the way to Mansfield returning to Apple.