Following Apple veteran Bob Mansfield cashing in $20 million worth of AAPL, Eddy Cue has decided to let go of roughly $8.8 million in stock. Cue, who’s official title at Apple is “Senior Vice President Internet Software and Services,” recently sold 15,000 shares valued at about $583 per share.
Cue only owns 285 accessible shares in Apple now, but he has a treasure trove waiting for him should he choose to stay with the company for the foreseeable future.
As part of his reward for being faithful to Apple, Cue will be given 50,000 more shares next year and 50,000 more in 2015. The shares will be worth whatever Apple’s trading price is at the time they are given. So they could bode very well for Cue financially depending on how well Apple continues to perform in the stock market. Like Mansfield, Cue is probably looking to avoid the U.S. government’s pinch on capital gains tax in 2013.
Next to Jony Ive and Tim Cook, Cue is probably the most important executive at Apple right now. He was recently put in charge of all Apple online services, including Siri and Maps. He’s also rumored to be spearheading Apple’s current negotiations with music labels and Hollywood studios. In his spare time, Cue serves as a board member for Ferrari.Related