THE STATESMAN – Apple’s Chief Financial Officer (CFO) Luca Maestri has sold a total of 96,735 shares worth USD16.9 million as part of an arranged trading plan, reports MacRumors.
According to a filing with the United States (US) Securities and Exchange Commission (SEC), the transaction was executed in two tranches.
One transaction was for 66,390 shares, sold for USD174.66 each, while the other was 30,345 shares pricing USD175.60 each.
“The transactions were made pursuant to a predetermined trading plan adopted by Maestri in November 2020, in accordance with insider trading laws,” the report mentioned.
Maestri still holds around 110,000 shares of Apple stock following the sale, according to the US SEC filing.
He joined Apple in 2013 and reports directly to CEO Tim Cook.
Apple’s stock closed at USD171.52 on Friday and is up nearly 32 per cent since June.
Despite the global macro-economic environment, Apple saw a record June quarter with two per cent (year-over-year) revenue increase at USD83 billion, riding on a 12 per cent sales increase in services.
iPhone revenue was up from USD39.5 billion to USD40.7 billion in the April-June period, a three per cent increase from the same time last year.
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment,” said Maestri.
“We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” he had said.
During the quarter, Apple generated nearly USD23 billion in operating cash flow, and returned over USD28 billion to its shareholders.
