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.

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

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

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

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

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

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