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

The transactions were made pursuant to a predetermined trading plan adopted by Maestri in November 2020, in accordance with insider trading laws. Maestri still holds around 110,000 shares of Apple stock following the sale, according to the SEC filing.

Maestri joined Apple in 2013 and is part of the company's senior executive team, reporting directly to CEO Tim Cook. 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.

Source: Macrumors