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Apple's top attorney sells $2.8M in stock, board member cashes in on $4.2M

post #1 of 37
Thread Starter 
Two high ranking officials at Apple cashed in on millions of dollars worth of company stock last week, new filings with the U.S. Securities and Exchange Commission have revealed.

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In a pair of Apple filings with the SEC last week, it was revealed that the company's general counsel, Bruce Sewell, as well as one of its board members, Arthur Levinson, together sold over 12,600 shares of AAPL stock worth over $7 million.

Last Thursday, Sewell sold 2,438 shares of AAPL stock priced at nearly $549, while another 2,700 shares were sold for almost $550. In all, the total value of shares sold by Sewell last week was more than $2.8 million.

It was actually the second major transaction for Sewell this month, as he also sold 5,137 shares of AAPL stock on Nov. 1. Priced at $600 each, they were worth a total of more than $3 million.

Also last Thursday, Levinson parted ways with 7,500 shares of AAPL stock valued at $560.65. The total value for those shares was more than $4.2 million.

Levinson took on a more significant role at Apple a year ago, when he was named chairman of the company's board of directors. Levinson previously served as the company's co-lead director since 2005, and also serves as chairman of Genentech, Inc. ? a biotech firm he lead as chief executive from 1995 to 2009.
post #2 of 37
Cue the talk that they are selling because they have zero faith in the company, blah blah

A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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post #3 of 37

When you need cash, you need cash.

 

Nothing much to see here...

post #4 of 37

"Even their own attorneys don't believe in them!"

OR

 

"If Forstall is anything to go by, the attorney's about to be fired."

 

OR

 

"Talk about your forgetting dubia in meliorem partem interpretari debent!"

 

Take your pick. lol.gif

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

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Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply
post #5 of 37

So which shipyard has a clearance sale on yachts? Maybe a Bugatti Veyron SS came up for sale? Someone wanted to own their own personal bridge?

Author of The Fuel Injection Bible

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Author of The Fuel Injection Bible

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post #6 of 37

I think we will see a lot of this - people selling this year to avoid the tax hike for next year. And of course, when taxes go up, the economy will stall, causing stock prices to go down, so another reason to sell this year. (Though the stock market is expecting this also, so prices should not plummet.....)

-JD
-- "If Apple wasn't so greedy, they would build G6's and give them away!"
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-JD
-- "If Apple wasn't so greedy, they would build G6's and give them away!"
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post #7 of 37
@charlituna you think you are smarter or have some knowledge that those lawyers don't have?
post #8 of 37
Originally Posted by hulksmash View Post
@charlituna you think you are smarter or have some knowledge that those lawyers don't have?

 

No, but what are YOU saying here?

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply
post #9 of 37
That's not that much money. Sounds like he wants to get a new house and pay some taxes. That's not that many shares out of what he has or has coming. No big deal. I wouldn't read into it. Lots of people like selling some shares at the end of the year.

That's why they get shares. to sell them when they want to have more cash to buy new houses, expensive cars, pay taxes, and to have a little fun.
post #10 of 37
Quote:
Originally Posted by anantksundaram View Post

When you need cash, you need cash.

Nothing much to see here...

Less than that even. When you know taxes are going up, you realize gains with the lower tax regime where you can. I'd expect to see a lot more sales before year's end.
post #11 of 37
Quote:
Originally Posted by charlituna View Post

Cue the talk that they are selling because they have zero faith in the company, blah blah

NO ****.  The guy has 150,000 shares that vest in 2016, this amount of shares being sold is like normal person going to the ATM and withdrawing $100 for the week end.  NO big deal.

post #12 of 37

A little over a year ago Eric Schmidt cashed in over a $1.5 Billion in Google stock (which only reduced his holdings from 2.8 to 2.1%. . . GEESH!)

 

He's still there and Google is still doing fine. Don't read too much into executives drawing down or adjusting their market exposure on occasion.

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melior diabolus quem scies
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post #13 of 37
Quote:
Originally Posted by EricTheHalfBee View Post

So which shipyard has a clearance sale on yachts? Maybe a Bugatti Veyron SS came up for sale? Someone wanted to own their own personal bridge?

After taxes, it's probably enough to maybe redo his house.  This is chump change to these guys. Especially since Bruce has about 150,000 shares that get vested in 2016.  A few thousand shares is like you or I going to the ATM and pulling a couple of hundred for the weekend.

post #14 of 37
Quote:
Originally Posted by EricTheHalfBee View Post

So which shipyard has a clearance sale on yachts? Maybe a Bugatti Veyron SS came up for sale? Someone wanted to own their own personal bridge?

Maybe he has or had a place on the East Coast that got damaged in the Hurricane and this helps replace things that the insurance won't pay for.  Many of these executives have homes or places on the East Coast.  Not many people on the East Coast have flood insurance.   Maybe this is to buy a yacht that got damaged that he wants fix up and move.  With 150,000 more shares vesting in 2016, this is weekend money.

post #15 of 37

They're not waiting for Apple to get back up to $700 or $800 a share to sell.  They're selling now because they know Apple is going down further before the end of the year.  They're selling because they're running scared.  They've already seen Apple stock lose $150 a share in just six weeks and they just can't stand idly and watch the bloodbath continue to $500.  Makes perfect sense to sell before they lose everything.

post #16 of 37
Originally Posted by Constable Odo View Post
They're not waiting for Apple to get back up to $700 or $800 a share to sell.  They're selling now because they know Apple is going down further before the end of the year.  They're selling because they're running scared.  They've already seen Apple stock lose $150 a share in just six weeks and they just can't stand idly and watch the bloodbath continue to $500.  Makes perfect sense to sell before they lose everything.

 

Exactly, the "lost faith" posts.

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply
post #17 of 37
Quote:
Originally Posted by Constable Odo View Post

They're not waiting for Apple to get back up to $700 or $800 a share to sell.  They're selling now because they know Apple is going down further before the end of the year.  They're selling because they're running scared.  They've already seen Apple stock lose $150 a share in just six weeks and they just can't stand idly and watch the bloodbath continue to $500.  Makes perfect sense to sell before they lose everything.

You mean...

Apple is Doomed?

ROFL!
post #18 of 37
Quote:
Originally Posted by Constable Odo View Post

They're not waiting for Apple to get back up to $700 or $800 a share to sell.  They're selling now because they know Apple is going down further before the end of the year.  They're selling because they're running scared.  They've already seen Apple stock lose $150 a share in just six weeks and they just can't stand idly and watch the bloodbath continue to $500.  Makes perfect sense to sell before they lose everything.

 

I'm sure that's it, it has zero to do with tax rates going up next year.  You seem to be pretty well connected with things, ear to the ground so to speak.  Do you have any other inside info to share?

 

 

Oh yeah, I think I'm supposed to end with:

 

/s

post #19 of 37
Quote:
Originally Posted by jwdawso View Post

I think we will see a lot of this - people selling this year to avoid the tax hike for next year. And of course, when taxes go up, the economy will stall, causing stock prices to go down, so another reason to sell this year. (Though the stock market is expecting this also, so prices should not plummet.....)
Isn't this the reason Apple stock has been declining?
post #20 of 37
Folks, when insiders sell, they have lost faith in the company. Just like how Forstall sold 95% of his shares earlier in the year. Do you really think these people would sell if they thought the stock was going to RISE into the future?
post #21 of 37
Quote:
Originally Posted by extremeskater View Post

I would say people have lost faith in our economy and Apple is simply a victim of an overall market that looks at our newly elected president as anti business. Since the election the market has gone one way and that is down. So while this thread is about board members this reflects what is happening across the board when it comes to the market. 

 

Here is another good example of what we love the do in the US. We love to build up the underdog we love to beat them up even more when they are on top.

 

http://money.msn.com/technology-investment/how-long-can-apple-stay-on-top

Uh uh... I've always wondered why Obama never made the case that the S&P500 was up a mere 65% under his watch....

 

Surely, must be because people had no faith.

 

/s

post #22 of 37
Quote:
Originally Posted by scotty321 View Post

Folks, when insiders sell, they have lost faith in the company. Just like how Forstall sold 95% of his shares earlier in the year. Do you really think these people would sell if they thought the stock was going to RISE into the future?


That's a stupid statement.  There are as many (if not more) examples of "insiders" selling with NO expected change in future share prices.

post #23 of 37
Quote:
Originally Posted by Constable Odo View Post

They're not waiting for Apple to get back up to $700 or $800 a share to sell.  They're selling now because they know Apple is going down further before the end of the year.  They're selling because they're running scared.  They've already seen Apple stock lose $150 a share in just six weeks and they just can't stand idly and watch the bloodbath continue to $500.  Makes perfect sense to sell before they lose everything.

 

<sarcasm alert>


That can't be. Some analysts have said that the stock will soar past $1000. Just wait. Just wait.

post #24 of 37
While Apple is far from washed up....the best days of Apple are behind them
For Apple to be down 150 points or 20% while the market isn't down more than 5%. And especially after such great product. Launches like the Iphone5 and IPad Mini only goes to prove that things are not the same.


I hope I'm wrong as I think Apple makes some great products. However it seems that tiheres to much negativity hanging around Apple. Wall Street knows better than the fanboys or trolls just look what they're saying
post #25 of 37
Quote:
Originally Posted by scotty321 View Post

Folks, when insiders sell, they have lost faith in the company. Just like how Forstall sold 95% of his shares earlier in the year. Do you really think these people would sell if they thought the stock was going to RISE into the future?

 

Or maybe in order to take advantage of a lower capital gains tax before it gets jacked up?

post #26 of 37
Quote:
Originally Posted by lilgto64 View Post

 

Or maybe in order to take advantage of a lower capital gains tax before it gets jacked up?

 

Agreed. Could be 4 years before cap gains taxes are reviewed again, or they may not go down for another 25 years. I'd cash out if I had that kind of stock also... Then again, I'd probably also leave the country in favor of living off a boat in international waters, or buy a private island somewhere.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #27 of 37
Quote:
Originally Posted by BUSHMAN4 View Post

While Apple is far from washed up....the best days of Apple are behind them
For Apple to be down 150 points or 20% while the market isn't down more than 5%. And especially after such great product. Launches like the Iphone5 and IPad Mini only goes to prove that things are not the same.
I hope I'm wrong as I think Apple makes some great products. However it seems that tiheres to much negativity hanging around Apple. Wall Street knows better than the fanboys or trolls just look what they're saying

What do you think 'Wall Street knows" about Apple that the 'fanboys or trolls' don't or can't?

 

How did your Groupon IPO -- that "Wall Street" geniuses priced, and "Wall Street" geniuses jumped at -- work out for ya? Or Facebook? lol.gif

post #28 of 37
Quote:
Originally Posted by EricTheHalfBee View Post

So which shipyard has a clearance sale on yachts? Maybe a Bugatti Veyron SS came up for sale? Someone wanted to own their own personal bridge?

 

That first line really made me laugh.

post #29 of 37
Quote:
Originally Posted by scotty321 View Post

Folks, when insiders sell, they have lost faith in the company. Just like how Forstall sold 95% of his shares earlier in the year. Do you really think these people would sell if they thought the stock was going to RISE into the future?
No, actually when insiders sell, and it is based on insider information, it usually results in criminal charges due to something called insider trading. Sometimes a stock sale, is just a stock sale...
NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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post #30 of 37

http://crackberry.com/tags/blackberry-10

 

He may be planning to invest in RIMM, in advance of the spectacularly successful introduction of the Blackberry 10.

 

Cheers

post #31 of 37
Quote:
Originally Posted by extremeskater View Post

Shit I see your point everything is great. 

No, you don't.

 

Read. The original post. The response.

 

But that would be asking too much of people like you with your perpetual agendas.........

post #32 of 37
Totally useless information without knowing how many shares they had in total. Did they sell all they had? Or a small percent?
post #33 of 37
Quote:
Originally Posted by extremeskater View Post

What agenda could anyone have talking about how the current economy is impacting Apple Stock? My comment was based on the fact that the markets did not have a positive reaction after the election. It is really hard for any investor to look at Obama as pro business and clearly he believes a bigger government is the answer instead of allowing the private sector to work. 

It is also a fact that our corporate tax rate is simply too high to make it appealing to do business in the US. Apple and other large companies are sitting on massive amounts of money because they do not feel it is wise to invest in our economy which is holding down growth. I am not having some kind of epiphany, anyone that follows the economy or government would come to the same conclusion.

Your comment was one line it had to do with the S&P500 as if that one indicator actually had any real value. 

Stop blabbering.

Stick to what you do best, which is trolling.
post #34 of 37
Quote:
Originally Posted by extremeskater View Post

Oh well my post was removed. I guess I have to take a gentle approach with you. Lets make it simple. You engaged me with your post and I responded. If you can't have a civil debate then don't post to me. It's insane for you to post to me and then accuse me a trolling because your attempt to debate the issue is flawed. 

I also find it interesting that a select group always puts the word "troll" out there yet Macrumors doesn't seem to have the same problem.  So maybe it's time for you to just grow up. If you can't take the hits back then don't try to dish them out. Think long and hard before you hit reply on any of my posts again. 

1) Your post was removed because it was full of obscenities. So much for the ability of folks like you to have a 'rational' and 'civil' debate. What a laugh.

2) You can take any approach you want. That would not change the fact that you understand little to nothing about the macroeconomy and the market, why and how we got here (Obama or no Obama), and even less about Apple and what it stands for by way of quality, design, innovation, responsiveness, customer service, management depth, and transparency in reporting.

3) The only thing I think long and hard about -- and confess, I'll probably never get -- is what drives people like you get up in the morning.
post #35 of 37
Originally Posted by anantksundaram View Post
3) The only thing I think long and hard about -- and confess, I'll probably never get -- is what drives people like you get up in the morning.

 

Their passion is as strong as ours. The universe wants to balance itself out.


Originally Posted by extremeskater View Post

I also find it interesting that a select group always puts the word "troll" out there yet Macrumors doesn't seem to have the same problem.  

 

You're joking, right? The pro-Apple users on MacRumors have given up fighting the anti-Apple idiots since their mods refuse to do anything about it. The site's overrun with them.


Edited by Tallest Skil - 11/13/12 at 9:48am

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply
post #36 of 37
Quote:
Originally Posted by extremeskater View Post

Not to mention if anantksundaram doesn't want to interact with me then  why post to me?

 

His sad and pathetic attempt to show superiority ...... blah blah

For the record, I really dislike interacting with people like you. I feel like I have to wash my hands afterwards.

 

But there are times that you guys just get past reasonableness with your relentless arrogance, negativity, and trolling (yes, trolling). 

 

If you don't like to be accused of that, try not being one, for a change.

post #37 of 37

I was going to mention that the reason your post was probably removed was due to the political statements and not colorful language. There's a sub-forum here for discussions of politics and government policy. This one isn't it.

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