Apple's Retail Chief Angela Ahrendts and Top Lawyer Bruce Sewell Each Sell Over $10 Million in Stock

Apple's retail chief Angela Ahrendts and top lawyer Bruce Sewell each sold over $10 million in company stock over the past week, according to a pair of disclosures with the Securities and Exchange Commission.

sewell ahrendts
Pursuant to her trading plan adopted in February, Ahrendts sold 75,000 shares of Apple stock between May 4 and May 8, netting nearly $11.1 million based on the weighted average sale price of the five transactions. Ahrendts still owns 103,116 shares in Apple following the sale, worth nearly $16 million.

Sewell sold 67,500 shares of Apple stock in multiple transactions on May 5, netting just over $10 million based on the weighted average sale price. Sewell still owns 141,325 shares in Apple following the sale, worth nearly $22 million.

Ahrendts has served as Apple's Senior Vice President of Retail since 2014, overseeing the company's physical and online storefronts. Under her leadership, Apple has been renovating several of its stores, partly in an effort to turn them into community gathering places rather than just sales floors.

Sewell has served as Apple's General Counsel since 2009, overseeing all legal matters, including corporate governance, intellectual property, litigation and securities compliance, global security, and privacy. He came into the spotlight last year twice during separate battles with the FBI and Spotify.

Top Rated Comments

OldSchoolMacGuy Avatar
53 months ago
Before people start claiming that this indicates a downfall coming for Apple, know that executives can only sell stock at certain times which are dictated by their contracts. They can't simply sell any time they think things are going to go bad.

They must also file these sales months ahead of time. This prevents any of them from dumping their stock if they've got inside information that something bad is coming.
Score: 38 Votes (Like | Disagree)
gnasher729 Avatar
53 months ago
time to short AAPL?
You go ahead and short AAPL. We all bow to your great knowledge of the workings of the stock market.

Except oldschoolmacguy who already explained why you are wrong :-)
Score: 23 Votes (Like | Disagree)
lellis2k Avatar
53 months ago
I have 3 shares in AAPL, it sounds so pitiful but I just like that I have some :D
Score: 11 Votes (Like | Disagree)
gnasher729 Avatar
53 months ago
Why wouldn't they sell (at least some) of their shares? It's at an all time high. A big bull run for AAPL doesn't happen very often.
Share buys and sells by insiders have to be announced to the SEC months ahead. So they didn't know the shares would be at an all-time high. If they _knew_, it would have been insider trading.

In reality, these people just have lots of share options, and since you can't buy a house, a car, or anything else with share options, they sell some from time to time to buy whatever they want.

I agree that the timing isn't a big deal, but you should pay attention to the fraction of their stock they sold: If they believe the stock price will be going up, they'll sell a smaller fraction of their shares than if they believe it's peaked.
Oh, there's another one. These sales were submitted to the SEC months and months ago. What these people think about the share price today is completely irrelevant. What they thought six months ago is relevant. A company executive can't just say "I think the share price is high today, I'll sell some shares".

And the number of shares sold don't depend on where they think the share price will go. It depends on how much cash they want to be able to buy things.
Score: 7 Votes (Like | Disagree)
belltree Avatar
53 months ago
Must be nice!
Score: 6 Votes (Like | Disagree)
jordii Avatar
53 months ago
I have 3 shares in AAPL, it sounds so pitiful but I just like that I have some :D
Not pitiful. Only certain people, even in the richest country at its richest point, can park $500 like that. Very few in the world, overall. And, over world history (adjusting for historical currency values) you're downright rich.

I have non-impoverished friends in Mexico with decent standards of living who just laughed and laughed at me when I proposed they take a $300 flight to visit me in NYC, though it's been the dream of their lifetime.
Score: 5 Votes (Like | Disagree)

Top Stories

General Music and AirPod 3 Feature

Rumor: Apple to Announce Third-Generation AirPods and HiFi Apple Music Tier on May 18

Thursday May 13, 2021 10:32 pm PDT by
A new rumor suggests that Apple will announce the third-generation AirPods and the recently rumored HiFi, or high-fidelity Apple Music tier, on Tuesday, May 18, via a press release on its website. The new rumor comes from Apple YouTuber Luke Miani who shared the alleged exclusive news with the AppleTrack website. According to the YouTuber, Apple plans to release the next-generation AirPods...
apple park drone june 2018 2

Apple Fires Newly Hired Ex-Facebook Product Manager Following Revelations of Past Misogynistic Comments

Thursday May 13, 2021 12:10 am PDT by
Apple has fired Antonio García Martínez, an ex-Facebook product manager and author of the controversial book "Chaos Monkeys," following public and internal calls for removal and investigation due to past misogynistic statements, The Verge reports. Apple hired Martínez earlier this week to join its ads team, however, comments that Martínez made in the past sparked condemnation from users...
imac m1 blue isolated 16x9 500k

M1 iMac is Up to 56% Faster Than Prior-Generation High-End 21.5-Inch iMac

Wednesday May 12, 2021 10:03 am PDT by
Apple's M1 iMacs are set to start delivering to customers next week, and ahead of the official launch day, benchmarks for the machines have been showing up on Geekbench, likely from reviewers who are testing them. It will come as no surprise that M1 iMac benchmarks are right on par with benchmarks for the M1 MacBook Pro, MacBook Air, and Mac mini, coming in with an average single-core score...
2021 mbp hdmi slot 3d

2021 MacBook Pro Leaks Confirm Returning MagSafe and Ports

Friday May 14, 2021 3:06 am PDT by
Apple's upcoming MacBook Pro models are expected to feature a number of major changes such as larger display options and powerful new Apple silicon chips. Among the more surprising updates to this year's MacBook Pro models is the return of three ports that have been missing from the machines for over five years. Expected to come in 14- and 16-inch sizes, the 2021 MacBook Pro models are...
fortnite apple logo 2

Judge in Epic vs. Apple Case Floats Potential Compromise

Wednesday May 12, 2021 3:54 pm PDT by
In the ongoing legal battle between Apple and Epic Games, the two companies are this week calling up their expert witnesses to argue their points before Judge Yvonne Gonzalez Rogers, who will make a decision in the case after a three week trial. Expert testimony is not as exciting as some of the leaked App Store documents that were highlighted last week, especially as much of what's being...
google photos

PSA: Google Photos Unlimited Storage Ends Next Month, Here's How to Export Your Pictures to iCloud

Thursday May 13, 2021 5:26 am PDT by
For as long as it's existed, Google Photos has offered free unlimited storage for uploading images at a reduced yet good enough quality for most users. From June 1, 2021, however, all photos and videos uploaded to Google accounts will count against users' cloud storage. If you've been relying on Google to back up your media library, it may be time to move that content elsewhere. This article...
AirTag in Envelope Feature 2

AirTag Used to Successfully Track a Mailed Package Across the UK

Wednesday May 12, 2021 8:44 am PDT by
An Apple customer in the United Kingdom has successfully used Apple's Find My network to track an AirTag as it was being sent by mail to a friend in a completely different city. Outlined in a blog post at Intego, Kirk McElhearn said he taped an AirTag to a piece of card, wrapped it inside a small bubble envelope, and then sent it on its way. Kirk lives in the small town of...
m1 ipad pro chip

M1 iPad Pro Over 50% Faster Than Previous Generation in Early Benchmarks

Tuesday May 11, 2021 11:56 am PDT by
Last month, Apple introduced a new iPad Pro with the same M1 chip found in the latest Macs, and early benchmark results indicate that the M1 iPad Pro is over 50% faster than the previous-generation iPad Pro. Based on five legitimate Geekbench 5 results (here's the fifth) for the fifth-generation 12.9-inch iPad Pro with the M1 chip, the device has average single-core and multi-core scores of...
prosser macbook air colors stacked

Images Reveal Colorful New MacBook Air Design

Tuesday May 11, 2021 5:06 am PDT by
Apple's next MacBook Air will feature a completely new design and come in a range of colors like the 24-inch iMac, according to leaker Jon Prosser, who has now released supposedly accurate renders of the new machines based on leaked images. In a new video uploaded to YouTube channel Front Page Tech, Prosser elaborated on his previous prediction that Apple's next-generation MacBook Air models ...
iPhone 13 Camera Backs

iPhone 13 Models Will Be Slightly Thicker and Will Have Larger Camera Bumps

Monday May 10, 2021 10:41 am PDT by
Apple's upcoming iPhone 13 models will be slightly thicker than the iPhone 12 models and will also feature larger, thicker camera bumps with lenses that protrude less, according to iPhone 13 schematics seen by MacRumors. The new iPhone 13 and 13 Pro models are expected to feature a thickness of 7.57mm, up from 7.4mm in the iPhone 12 models. That's an increase of 0.17mm, which won't be hugely ...