Apple chief financial officer Luca Maestri has sold Apple shares for US$16.9 million on August 17, a Securities and Exchange Commission filing states. This isn’t an uncommon thing for execs of profitable companies to do.

One transaction was for 66,390 shares, sold for $174.66 each, while the other was 30,345 shares that was worth $175.60 apiece.

Maestri still holds around 110,000 shares of Apple stock following the sale, according to the SEC filing. He joined Apple in 2013 and is part of the company’s senior executive team, reporting directly to CEO Tim Cook.

Article provided with permission from AppleWorld.Today