Apple's chief financial officer sold 96735 Apple shares and cashed out about 115 million yuan

CTOnews.com, Aug. 20 (Xinhua)-- according to Securities and Exchange Commission (SEC) filings released today, Luca Maestri, Apple's chief financial officer, sold 96735 Apple shares in two deals completed on Wednesday, valued at about $16.9 million.

Luca Mestri, chief financial officer of Apple

These transactions are conducted in accordance with the scheduled trading plan approved by Maestri in November 2020 and are in compliance with the Insider Trading Act. Maestri still holds about 110000 Apple shares after the sale, according to SEC filings.

CTOnews.com learned that Maestri joined Apple in 2013 as part of the company's senior management team, reporting directly to CEO Tim Cook. As CFO, he oversees Apple's accounting, financial planning and analysis, capital, investor relations, internal audit, real estate, business support and tax functions, according to Apple.

Apple shares closed today at $171.52, up nearly 32 per cent since mid-June. Last month, Apple reported financial results for the third quarter of 2022, with revenue of $83 billion (566.06 billion yuan), driven by sales of iPhone phones and the company's growing service portfolio.