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.


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

(View all)
Avatar
44 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)
Avatar
44 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)
Avatar
44 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)
Avatar
44 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)
Avatar
44 months ago
Must be nice!
Score: 6 Votes (Like | Disagree)
Avatar
44 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

Leaker: 'iPhone 12 mini' and iPhone 12 Storage Capacities Start at 64GB, Pro Models at 128GB

Tuesday September 29, 2020 2:31 am PDT by
Rumors suggest Apple's iPhone 12 launch event will be held on October 13, with the more affordable 5.4 and 6.1-inch devices set to ship out ahead of the more expensive 6.1-inch and 6.7-inch Pro devices, and this morning hit-and-miss leaker Jon Prosser has further committed to that date by providing alleged details on Apple's first shipment of finalized iPhone 12 units. Prosser claims the...

Hands-On With iOS 14.2's New Shazam Music Recognition Toggle in Control Center

Monday September 28, 2020 2:35 pm PDT by
Shortly after launching iOS 14, Apple introduced an upcoming iOS 14.2 update, which is now available to developers and public beta testers ahead of a public release that could come at some point in October. Subscribe to the MacRumors YouTube channel for more videos. The iOS 14.2 update mainly focuses on the Control Center, introducing a new Music Recognition toggle that deepens the Shazam...

iPhone 12 'Pro Max' Model to Sport Unique High-End Features

Wednesday September 30, 2020 2:01 am PDT by
The upcoming "iPhone 12 Pro Max" is anticipated to have a number of unique high-end features not found on any other iPhone, such as its screen size, LiDAR scanner, faster 5G, and potentially a higher display refresh rate. The iPhone 12 Pro Max is also expected to be the largest ever iPhone, with a 6.7-inch display. Previously, the largest iPhones have been 6.5-inches in the iPhone XS Max and ...

DigiTimes: 12.9-inch Mini-LED iPad Pro Arriving Early 2021, Mini-LED MacBook Coming Later

Tuesday September 29, 2020 4:18 am PDT by
Apple will launch a 12.9-inch mini LED-backlit iPad Pro in early 2021 and a mini LED-backlit MacBook in the second-half of next year, according to DigiTimes. The Taiwan-based industry publication claims Epistar will supply the over-10,000 mini LEDs used in each iPad Pro tablet. Meanwhile, Apple is expected to recruit Osram Opto as another supplier of mini LEDs for use in a new "high-end"...

iOS 14.2 Suggests Apple Won't Include EarPods in the Box With iPhone 12

Tuesday September 29, 2020 2:19 pm PDT by
Rumors have suggested that Apple's iPhone 12 models will not include power adapters or EarPods in the box, and a minor code tweak in iOS 14.2 seemingly confirms Apple's plan to sell the new devices without EarPods. In iOS 14 and earlier versions of iOS, there's a mention of reducing exposure to RF energy by using the "supplied headphones," which is the same wording that Apple has used for...

iPhone 12 Production Lines at Foxconn's Zhengzhou Factory in China Running '24 Hours a Day'

Tuesday September 29, 2020 3:38 am PDT by
Apple contract manufacturer Foxconn is running its massive Zhengzhou factory in China 24 hours a day to produce the new iPhone 12, according to Chinese media reports. Apple's main iPhone manufacturer in China is said to be cancelling workers' holidays and introducing mandatory overtime with additional bonuses for longer-serving staff, according to information garnered from employees,...

iPhone 12 May Launch Earlier Than Usual in South Korea

Monday September 28, 2020 5:24 am PDT by
The upcoming iPhone 12 lineup may launch earlier than usual in South Korea, reports The Korea Herald. South Korean telecoms firms speaking to The Korea Herald have said that the iPhone 12 lineup will launch ahead of its usual schedule. Normally, the release of new iPhones in South Korea comes about one month after launch in the United States. Last year, the iPhone 11 arrived in South Korea ...

iOS 14.2 Beta 2 Adds New Emoji Characters like Ninja, Pinata, Bubble Tea, Polar Bear and More

Tuesday September 29, 2020 11:22 am PDT by
The second beta of iOS 14.2 introduces the new Emoji 13 characters that Apple previewed earlier this year as part of World Emoji Day. New emoji options include ninja, people hugging, black cat, bison, fly, polar bear, blueberries, fondue, bubble tea, and more, with a list below. Faces - Smiling Face with Tear, Disguised Face People - Ninja, Person in Tuxedo, Woman in Tuxedo, Person...

Epic Games Unlikely to Win Injunction in Ongoing Fortnite Battle With Apple, Jury Trial Possible

Monday September 28, 2020 1:14 pm PDT by
The ongoing legal dispute between Apple and Epic Games continued on today, with a preliminary injunction hearing taking place this morning. We're still waiting to hear the judge's official ruling, but it looks like Epic is not going to be granted an injunction to allow Fortnite back into the App Store as the case unfolds. Many of the arguments that lawyers for Apple and Epic Games made were...

Apple Releases Ninth Beta of macOS Big Sur to Developers

Tuesday September 29, 2020 10:07 am PDT by
Apple today seeded the Ninth beta of an upcoming macOS Big Sur update to developers for testing purposes, a week after releasing the eighth beta and more than two months after the new update was unveiled at the Worldwide Developers Conference. The macOS Big Sur beta can be downloaded through the Apple Developer Center and once the appropriate profile is installed, subsequent betas will be...