Apple Inc. (NASDAQ:AAPL) executives Eddy Cue and Tim Cook exercised stock options last week, reveals a filing with the United States Securities and Exchange Commission (SEC). However, Eddy Cue sold a portion of his stocks for a total of $12.4 million while Tim Cook did not sell any stock.

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Eddy was awarded 100,000 RSUs

Last Saturday, Eddy Cue acquired 50,000 restricted stock units (RSUs), and sold 24,580 shares at a price of $504.18 to net $12,392,700. Apple Inc. (NASDAQ:AAPL) Senior Vice President of Internet Software and Services, Eddy Cue still holds 25,420 shares at a price of $501.02 per share to satisfy the minimum statutory tax requirements on vested RSUs.

Eddy Cue was awarded 100,000 restricted share units when he was promoted to Senior Vice President of Internet and Software services in 2011. Half of those units materialized on August 24, 2013 while the second half will be vested two years later in 2015, depending if Cue is still with Apple Inc. (NASDAQ:AAPL).

Tim Cook’s shares are worth over $42.7 million

Apple Inc. (NASDAQ:AAPL) Chief Executive Tim Cook was awarded 72,877 shares when he promoted to CEO two years ago. For tax purposes, Cook had to withheld 38,028 shares while the remaining 34,849 shares, valuing around $19.5 million, the CEO continues to hold. Cook did not drop any of his shares in the last week. Tim Cook at present has 87,316 stocks, which at present price are worth around $42.7 million.

Another 840,000 restricted share units (RSUs) in 100,000 unit lot sizes will be vested in 2016 and 2021. The balance of 640,000 shares will be divided into eight equal instalments of 80,000 units, the first one to be vested on August 24, 2014.

Apple purpose behind RSUs

Last year in winter, it was decided that Apple Inc. (NASDAQ:AAPL) executives and board members will be required to hold multiples of their base salary in Apple stock. Apple Inc. (NASDAQ:AAPL) arrived at this decision to address the concerns of some large institutional stockholders including CALPERS, the California Public Employees’ Retirement System.

Recent rating by analysts

Recently various analysts gave their ratings on the iPhone maker. UBS AG analyst increased their price target on the stock from $500.00 to $560 and have assigned a Buy rating, in a research note issued on August 21st. RBC analysts are also seem to be positive on the stock by giving an Outperform rating and assigning a price target of $525, in a note released on August 15th. Analysts at ABG Sundal Collier maintained a Hold on Apple Inc. (NASDAQ:AAPL)’s stock in a research note to investors on August 14th.