Luca Maestri, CFO at Apple, sells Apple shares.

Luca Maestri, head of finance at Apple, sells Apple shares for more than $16 million.

Luca Maestri, Apple's CFO, sold 96,735 shares of the company's stock on Wednesday in two deals totaling around $16.9 million.

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The trades were carried out in accordance with a prearranged trading strategy that Maestri chose in November 2020.

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is permitted under insider trading regulations. Following the transaction, Maestri still possesses around 110,000 shares of Apple stock, according to the SEC filing.

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Maestri became a member of Apple's senior management team in 2013 and answers directly to CEO Tim Cook. becoming the top financial officer

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According to Apple, he is in charge of the company's accounting, investor relations, internal audits, real estate, business support, and tax departments.

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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

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with $83 billion in revenue, fueled by iPhone sales and the company's expanding service offering.

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