Apple's Eddy Cue lets go of $8.76M in stock

Apple's iTunes and iCloud chief has sold off a healthy chunk of stock, but he's still got plenty of shares tucked away.

Eddy Cue, Apple's iCloud and music chief at Apple's iPhone 5 event earlier this year.
Eddy Cue, Apple's iCloud and music chief at Apple's iPhone 5 event earlier this year. James Martin/CNET

Apple's iTunes, iCloud, and Maps chief, Eddy Cue, let go of a portion of company stock last Friday, a new filing shows.

According to a filing with the U.S. Securities and Exchange Commission this afternoon, Cue sold off 15,000 shares last week, worth just under $584 apiece on average.

The total sale was worth just less than $8.76 million.

Cue was promoted to senior vice president last September, a month after Tim Cook took the helm as CEO. As part of the promotion Cue oversaw iTunes, iCloud, iAd, and Apple's iBookstore. With an executive shuffle in November, Cue was also given responsibility of Apple's Siri voice assistant product, as well as its homegrown mapping service as part of an "online services" group.

Before making too much out of last week's sale, consider that Cue was given a hearty bonus of 100,000 restricted stock units last November, designed to keep him and others there for the long haul. The first bunch of those shares vests on September 21, 2014, reliant on Cue continuing to work at Apple.

Cue's sell-off comes a day after a sale of 35,000 shares by fellow Apple SVP Bob Mansfield, who pulled in around $20 million from the sale.

About the author

Josh Lowensohn joined CNET in 2006 and now covers Apple. Before that, Josh wrote about everything from new Web start-ups, to remote-controlled robots that watch your house. Prior to joining CNET, Josh covered breaking video game news, as well as reviewing game software. His current console favorite is the Xbox 360.

 

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