Longtime Apple executiveÂ Bob Mansfield just had a big pay day, according to a new filing with theÂ U.S. Securities and Exchange Commission. Mansfield just cashed inÂ 35,000 shares of Apple stock valued atÂ $ 582.21 per share, earning himÂ $ 20.37 million.
After announcing his retirement but then staying on at Apple to lead the company’s mysterious new “Technologies” group, Mansfield now reports directly toÂ CEO Tim Cook. He’s just as instrumental to the company’s success as ever.
Mansfield joined Apple back inÂ 1999, and since then he has overseen the launch of many of the company’s most successful products, including theÂ MacBook Air and iMac. He’s considered one of the most beloved executives at Apple, so much so that he was persuaded to not retire and stay on as the head of the company’s semiconductor and wireless tech endeavors.
Selling stock doesn’t mean that anything is wrong in this case. If anything, Mansfield is playing it smart and alleviating the sting of 2013′s capital gains taxes increase. Last year, he sold 99% of his stock for a $ 13.7 million pay out. Mansfield still hasÂ 29,548 shares in the company and he has been promised 150,000 additional shares inÂ June of 2013 and March of 2016. That’s not including any bonuses he could be given for being great at his job.