“Apple Senior VP of Internet Software and Services Eddy Cue joined the ranks of several executives looking to cash in company stock before the unknown results of the fiscal cliff are upon them,” Krystal Peak reports for Silicon Valley / San Jose Business Journal.
“According to a Securities and Exchange Commission filing on Tuesday, Cue sold off almost all of his current shares of AAPL common stock, amounting to roughly $8.76 million,” Peak reports. “Just one week ago, Apple’s Senior VP of Technologies, Bob Mansfield, sold 35,000 shares of the company stock valued at nearly $20.4 million, according to an SEC filing.”
Peak reports, “The two Apple executives cashing out is more of a reflection of the concern entrepreneurs and executives are having as they hear speculation of dividend rates skyrocketing… The biggest concern for those holding onto some high-ticket stock is that the dividend tax rate could revert to 39.6 percent for the highest tax bracket — something proposed by President Barack Obama.”
Read more in the full article here.
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