Apple Inc. (AAPL) SVP of Technologies, Bob Mansfield Sells off $20.4M worth of Company Stock
According to a filing with the SEC, Apple Inc. (AAPL) Senior Vice President of Technologies, Bob Mansfield has sold off 35,000 shares of AAPL stock for the price of $582.21 per share, which equates to about $20.4 million. Mansfield reportedly has 29,548 shares remaining with the company, and will be offered another stock option of 150,000 shares. These shares will be offered on June 2013 and also in March 2016.
Bob Mansfield announced retirement earlier this year when he held the position, SVP of Hardware Engineering. He later decided to stay as SVP of Technologies and now runs Apple’s wireless and semiconductor teams. This new position was given to Mansfield after SVP of iOS software, Scott Forstall was removed from the company following a string of issues with iOS Maps and Siri as well as Forstall’s strained relationship with other executives at the company.
Mansfield is receiving $2 million a month to stay at Apple and run these teams, which are still working through the management shakeup and fixing previous issues. With Mansfield still working at Apple, the company is retaining one of the original executives that is familiar with both the leadership of Steve Jobs and Tim Cook. Apple has had a major turnover with its retail chief, with the departure of Ron Johnson and John Browett and with the removal of Scott Forstall as iOS chief.