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Sunday, February 5, 2023

Luca Maestri, Apple’s financial chief, sells shares worth over $16 million

Luca Maestri, Apple’s chief financial officer, sold 96,735 shares of Apple stock valued at around $16.9 million in two transactions on Wednesday, according to a filing with the Securities and Exchange Commission (SEC) released today.

Maestri made the transactions according to an insider trading plan he adopted in November 2020. Following the sale, Maestri still owns approximately 110,000 Apple shares.

In 2013, Maestri joined Apple as part of the company’s senior executive team. He reports directly to Tim Cook, the company’s CEO. As chief financial officer, he oversees Apple’s accounting, financial planning and analysis, treasury, investor relations, internal auditing, real estate, business support, and tax functions, according to Apple.

Apple’s stock closed at $171.52 today and is up nearly 32% since mid-June. Last month, Apple reported a new June quarter record with $83 billion revenue, driven by sales of iPhones and the company’s growing portfolio of services.

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