According to a regulatory filing, Apple Senior Vice President of Technologies Bob Mansfield has cashed in over $20 million of his Apple stock. He sold 35,000 shares at a price of $582.21 per share.
The move comes nine months after Mansfield sold 30,000 shares of stock for a gain of $12.5 million in early February, with Apple shares netting an average of $452.28 at the time. Since then, Mansfield has retired, taken an advisory role, and then recently un-retired to take charge of a new “Technologies” group in an executive reshuffling that saw iOS chief Scott Forstall ousted.
Mansfield has regularly cashed in on stock options, and is an active participant in Apple’s stock option and grant award programs for senior executives. Mansfield still owns 29,548 shares of Apple stock and stands to receive an additional 150,000 shares in two equal portions June 2013 and March 2016. He also possesses a restricted stock grant that could gain him another 100,000 shares in 2014. All of these shares would only be awarded to him if he remains with Apple.
Mansfield may be looking to unload stock as 2012 draws to a close, due to a scheduled increase in capital gains taxes in 2013. Selling stock now allows sellers to reduce their tax burden, although should Apple stock continue to rise, it could more than compensate for any higher tax rate.
