Apple execs Angela Ahrendts and Bruce Sewell each sell over $10M in company stock
Apple's head of retail, Angela Ahrendts, last week sold off 75,000 shares of Apple stock to net $11.1 million, while general counsel Bruce Sewell shed 67,500 shares to gain over $10 million.
According to a Securities and Exchange Commission filing made public on Monday, Ahrendts executed a series of five transactions conducted between May 4 and May 8, each involving multiple trades at prices ranging from $145.84 to $150.89. Following the sale, Ahrendts still holds 103,116 shares worth $15.8 million at the end of trading on Monday.
The sale was accomplished according to a trading plan Ahrendts adopted in February.
Hired in 2014, Ahrendts has become the public face of Apple's retail operations.
Shortly after joining the ranks in Cupertino, Ahrendts began planning a drastic revamp of the company's brick-and-mortar operations that included "next-gen" store redesigns. The updated design language, which features high-flung ceilings with integrate light panels, a large custom television display and copious amounts of wood furniture, first launched with a new outlet in Brussels in 2015.
Ahrendts is working to transform the Apple store into a "town square" where customers can engage and interact with their local communities. As part of the new initiative, Ahrendts last month announced the "Today at Apple" program, which involves a series of 60 different educational sessions led by "Creative Pros" skilled in fields like music and photography. As part of the effort, so-called "forums" will be built into larger flagship locations to host performances by local music acts.
In a separate filing on Monday, Sewell reported a May 5 transaction executed in multiple trades at prices ranging from $148.59 to $148.895. The weighted average sale price was calculated at $148.46. After selling the securities last week, Sewell retains 141,325 AAPL shares currently worth $21.6 million.
Serving as Apple's general counsel since 2009, Sewell has long operated out of the public eye. That changed last year when the U.S. Department of Justice went to war with Apple over a locked iPhone used by a suspect in the San Bernardino terror attacks. In March of 2016, Sewell presented Apple's case for strong device encryption and personal safeguards to the U.S. House of Representatives Judiciary Committee.
According to a Securities and Exchange Commission filing made public on Monday, Ahrendts executed a series of five transactions conducted between May 4 and May 8, each involving multiple trades at prices ranging from $145.84 to $150.89. Following the sale, Ahrendts still holds 103,116 shares worth $15.8 million at the end of trading on Monday.
The sale was accomplished according to a trading plan Ahrendts adopted in February.
Hired in 2014, Ahrendts has become the public face of Apple's retail operations.
Shortly after joining the ranks in Cupertino, Ahrendts began planning a drastic revamp of the company's brick-and-mortar operations that included "next-gen" store redesigns. The updated design language, which features high-flung ceilings with integrate light panels, a large custom television display and copious amounts of wood furniture, first launched with a new outlet in Brussels in 2015.
Ahrendts is working to transform the Apple store into a "town square" where customers can engage and interact with their local communities. As part of the new initiative, Ahrendts last month announced the "Today at Apple" program, which involves a series of 60 different educational sessions led by "Creative Pros" skilled in fields like music and photography. As part of the effort, so-called "forums" will be built into larger flagship locations to host performances by local music acts.
In a separate filing on Monday, Sewell reported a May 5 transaction executed in multiple trades at prices ranging from $148.59 to $148.895. The weighted average sale price was calculated at $148.46. After selling the securities last week, Sewell retains 141,325 AAPL shares currently worth $21.6 million.
Serving as Apple's general counsel since 2009, Sewell has long operated out of the public eye. That changed last year when the U.S. Department of Justice went to war with Apple over a locked iPhone used by a suspect in the San Bernardino terror attacks. In March of 2016, Sewell presented Apple's case for strong device encryption and personal safeguards to the U.S. House of Representatives Judiciary Committee.
Comments
Ms. Ahrendts shares were sold pursuant to a trading plan adopted in February. She had just received a little over 79,000 shares (net of tax withholding) on Monday as part of the package she was awarded when she came to Apple. Some of those were (stock) performance based, some were just time based. I wouldn't be surprised if see another filing for her after tomorrow indicating that she sold another 4,000 or so. These last 75,000 were sold in groups of 25,000 per day on Thursday, Friday and Monday. They have to report such sales within 3 days, so a filing couldn't have waited for one more day of sales if the intention was to sell all of the shares that just vested last week.
Apple store Mac Specialist - $13.34/hr
Apple Retail Specialist - $14.94/hr
Family Room Specialist - $15.58/hr
So not that far from minimum wage.
Are you saying that Apple just shores ups the minimum wage for that state and then leaves it at that, or do you think that they adjust the payscale accordingong to fit local economic costs and the ability to hire for a specific position? I'm pretty certain it's the latter.
https://www.glassdoor.com/Salary/Apple-Salaries-E1138.htm
As little as $9/hr for Mac Specialists
$10/hr for Apple Retail Specialists
...and I'm not saying Apple should pay them more. I was simply advising the OP who sounded as tho he was under the impression they were paid better than that.
EDIT: I would note that giving $11M to an already very wealthy woman who could not possibly spend the money she already has accomplishes less for our economy than distributing that same $11 million to the lowest paid Apple employees who almost certainly will spend it primarily locally. I realize that to some $11M isn't much, but to a low-paid hourly worker an extra few hundred bonus can mean a lot.
For instance, Apple has around 265 stores, and says they average 100 employees each and most are full time (meaning some are not of course). But assume 20% of those employees are the lowest paid ones. If that $11Million were distributed to them how much could be given to each of those lowest paid to allow them to pay off debt, assist with rent, down-payment on a more reliable vehicle, or pay for schooling? I've already done the math.
2) I have no idea how much money she needs, but that was a decision Apple made to hire her, and should not be based on what others make, but her perceived value to the company. Does an Apple Retail Specialist bring in more revenue and profit for Apple than what Ahrendts and Sewell offer the company? Does a Mac Specialist have more experience than Ahrendts and Sewell for their respective leadership positions?
But it's more a US thing than worldwide to believe top management is thousands and even millions of times more valuable than their employees who produce the products and provide the services.
Smart CEO's don't take big salaries. They take big stock options.