sewellApple chairman Arthur D. Levinson and general counsel Bruce Sewell recently sold approximately $7.6 million and $2.5 million worth of company shares respectively, according to SEC documents filed electronically this week.

Levinson sold 70,000 shares of common stock on August 9 for an average price of $108.68, while Sewell disposed of 23,305 shares for an average price of $107.49 on August 5. The combined return was slightly over $10 million.

Levinson, CEO of biotech company Calico, a subsidiary of Google parent Alphabet, has served as chairman of Apple's board of directors since November 2011. The former Genentech executive has served on the board since 2000, with CEO Tim Cook praising his "enormous contributions to Apple" and "incredibly valuable" insight and leadership.

Sewell has served as Apple's general counsel, or chief lawyer in layman's terms, since September 2009. He oversees all company-related legal matters, including corporate governance, intellectual property, litigation and securities compliance, global security, and privacy, including a recent high-profile court battle with the FBI related to the intersection of national security and smartphone encryption.

Apple's senior executives and directors are commonly awarded generous stock bonuses based on performance and tenure. Last August, Cook and services chief Eddy Cue received 560,000 and 350,000 restricted stock units respectively, worth a combined $93.8 million at the time. Later in the year, Apple's recently promoted hardware chief Johny Srouji was awarded nearly $10 million in restricted stock units.

Tags: AAPL, SEC

Top Rated Comments

Fzang Avatar
84 months ago
It's confirmed. iPhone 7 is a flop, Apple is a sinking ship and the first ones are already dumping shares before it's too late!

/s
Score: 10 Votes (Like | Disagree)
Xtremjeepn Avatar
84 months ago
There is no news here.

These individuals acquire large sums of Apple stock as part of their compensation.

This simply means that in order to A) spend that compensation the stock must be sold or B) to mange the risks in their own portfolios they must sell to buy other potions. It's in nobody's best interest to have all of your holdings in one company, especially when that company is also the source of your paycheck.
Score: 7 Votes (Like | Disagree)
budselectjr Avatar
84 months ago
FYI, most sales are planned and documented in advance and some are done solely for the purpose of paying the tax on options they have to execute.
Score: 6 Votes (Like | Disagree)
SandboxGeneral Avatar
84 months ago
Must be nice.
Score: 3 Votes (Like | Disagree)
SteveJobs2.0 Avatar
84 months ago
It's confirmed. iPhone 7 is a flop, Apple is a sinking ship and the first ones are already dumping shares before it's too late!

/s
Sarcasm aside, you might actually be correct. These two are intelligent individuals that are also privy to the inner workings of the company.
Score: 3 Votes (Like | Disagree)
dustlane Avatar
84 months ago
I recently cashed a $20 check that was about to expire so I know exactly how they feel. It's tough managing this type of money.
Score: 2 Votes (Like | Disagree)

Popular Stories

iOS 16

Apple Releases iOS 16.3 With Security Keys for Apple ID, New HomePod Support, Bug Fixes and More

Monday January 23, 2023 10:10 am PST by
Apple today released iOS 16.3, the third major update to the iOS 16 operating system that first came out in September. iOS 16.3 comes over a month after the launch of iOS 16.2, an update that added the Freeform app, Apple Music Sing, Advanced Data Protection, and more. iOS 16‌.3 can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update....
iOS 16

iOS 16.3 for iPhone Launching Next Week With These 4 New Features

Friday January 20, 2023 11:43 am PST by
In a recent press release, Apple confirmed that iOS 16.3 will be released to the public next week. The software update will be available for the iPhone 8 and newer and includes a handful of new features, changes, and bug fixes. Below, we've recapped bigger features in iOS 16.3, including support for physical security keys as a two-factor authentication option for Apple ID accounts, worldwide ...
iPhone 14 Pro Purple Side Perspective Feature Purple

iPhone 15 Pro Expected Later This Year With These 7 Exclusive Features

Tuesday January 24, 2023 4:53 pm PST by
Apple's next-generation iPhone 15 Pro and iPhone 15 Pro Max are expected to be announced in September as usual. Already, rumors suggest the devices will have at least seven exclusive features not available on the standard iPhone 15 and iPhone 15 Plus. An overview of the seven features rumored to be exclusive to iPhone 15 Pro models:A17 chip: iPhone 15 Pro models will be equipped with an A17...
watchOS 9 Feature

Apple Releases watchOS 9.3 With New Watch Face, Bug Fixes

Monday January 23, 2023 10:06 am PST by
Apple today released watchOS 9.3, the third major update to the watchOS 9 operating system that first launched in September. watchOS 9.3 comes over a month after watchOS 9.2, an update that added new Workout functionality and Crash Detection optimizations. watchOS 9.3 can be downloaded for free through the Apple Watch app on the iPhone by opening it up and going to General > Software Update. ...
iPhone trade in

Apple Adjusts Trade-In Values for iPhones, Macs, and More

Wednesday January 25, 2023 9:40 am PST by
After announcing new Mac and HomePod models last week, Apple adjusted its trade-in values for select devices in the United States. iPhone trade-in values decreased by up to $80, and most Android smartphones also went down. Mac trade-in values remained unchanged or increased by up to $40 depending on the model, while some Apple Watch models increased in value and others decreased. Trade-in...
Ventura Macs Feature Blue

Apple Releases macOS Ventura 13.2

Monday January 23, 2023 10:09 am PST by
Apple today released macOS Ventura 13.2, the second major update to the macOS Ventura operating system initially released in October. macOS Ventura 13.2 comes more than a month after macOS Ventura 13.1, an update that added the Freeform app and other changes. The ‌macOS Ventura‌ 13.2 update can be downloaded for free on all eligible Macs using the Software Update section of System...
Mac mini M2 2023

New 256GB Mac Mini and 512GB MacBook Pro Have Slower SSD Speeds Than Previous Models

Tuesday January 24, 2023 1:11 pm PST by
While the new Mac mini with the M2 chip has a lower $599 starting price, the base model with 256GB of storage has slower SSD read and write speeds compared to the previous-generation model with the M1 chip and 256GB of storage. A teardown of the new Mac mini shared by YouTube channel Brandon Geekabit reveals that the 256GB model is equipped with only a single 256GB storage chip, while the...
apple tv 4k red image

Apple Releases tvOS 16.3

Tuesday January 24, 2023 10:10 am PST by
Apple today released tvOS 16.3, the third major point update to the tvOS 16 operating system that originally came out in September. Available for the Apple TV 4K and Apple TV HD, tvOS 16.3 comes six weeks after tvOS 16.2, an update that added Apple Music Sing. The tvOS 16.3 update can be downloaded over the air through the Settings app on the ‌‌‌‌Apple TV‌‌‌‌ by going to System > Software...