Bertrand Serlet, Appleis senior vice president of Software Engineering, sold 10,625 shares of his Apple stock in a pre-arranged deal last week. The transaction was reported to the Securities and Exchange Commission on Friday, according to Forbes.
The transaction was performed in compliance with an SEC approved procedure that allows company insiders to prep a sale in advance and then complete the transaction even if they gain material and non-public information before completing the deal.
Mr. Serlet sold the shares for US$101.58 each, and the transaction was reported to the SEC the day after it was completed - well within the two-day deadline.
Apple stock is currently trading at $100.29, up 0.82 (0.82%).