Apple's board chair & general counsel sell over $10M in personal stock
Two high-level people at Apple -- the chairman of Apple's board of directors, Arthur Levinson, and general counsel Bruce Sewell -- recently unloaded a combined $10.1 million in Apple shares, according to required SEC filings.
Sewell garnered $2.5 million from the sale of 23,305 shares on August 5. Levinson sold 70,000 shares, generating $7.6 million on August 9.
Sewell has served as the company's general counsel since September 2009. To the public, he may be best known for March testimony in front of the U.S. House of Representatives Judiciary Committee on Apple's behalf, regarding the ongoing encryption debate between Silicon Valley and the federal government.
Levinson has served on the Apple board of directors since 2000, and has been the chairman of the board since 2011. Levinson is also the CEO of Alphabet's Calico life-extension initiative, and serves on the Broad Institute's board of directors.
Sewell garnered $2.5 million from the sale of 23,305 shares on August 5. Levinson sold 70,000 shares, generating $7.6 million on August 9.
Sewell has served as the company's general counsel since September 2009. To the public, he may be best known for March testimony in front of the U.S. House of Representatives Judiciary Committee on Apple's behalf, regarding the ongoing encryption debate between Silicon Valley and the federal government.
Levinson has served on the Apple board of directors since 2000, and has been the chairman of the board since 2011. Levinson is also the CEO of Alphabet's Calico life-extension initiative, and serves on the Broad Institute's board of directors.
Comments
You'd think Apple might have learned from the Schmidt episode.
I don't see any conflict of interest.
If Apple gets into biotech or Calico moves into wearable health technology then maybe, but until then you're casting unnecessary doubt.
So there is that combination of price and time. Sometimes an option goes under water, which is when the price drops below the option price. Then a sale can be made as a loss, which confers a tax refund. But mostly, the stock goes up. The best time to sell is when the stock is priced as high as it can be as close to the time of expiry as possible, depending on what time of the year that may be, because of tax purposes.
In addition, as has been mentioned here already, the person may be buying a new house, or other rather high expense.
So these sales have nothing to do with whether Apple's stock is good to buy now.
Is it the lack of socks or that when he wears them, they're camouflage-patterned?
Levinson sold 70,000 shares
This is a slow news day for Apple Insider.