Editor’s note: This article was first published in June 2013. The Apple share prices it cites, around 395 to 405 dollars, are from before the company’s 7-for-1 (2014) and 4-for-1 (2020) stock splits, and the executives’ roles are as of 2013.
At this delicate moment for Apple’s share price (NASDAQ: AAPL), two of the company’s executives, Bruce Sewell and Jeff Williams, have each sold $15 million in Apple shares, according to the SEC filing.
According to MacRumors, both executives notified the SEC months before the sale went through, so that they could not be accused of trading on inside information.
Bruce Sewell, Senior Vice President and General Counsel, sold 37,172 shares this Monday, while Jeff Williams sold 36,819 shares the same day, at prices of between $399 and $405.
Both executives were granted 150,000 Apple shares in 2011 as a company incentive. They received half of them on 21 June 2013 and will receive the other half in 2016. We can infer that they have sold part of the 75,000-share package they received just five days ago.
Apple has fallen below $400 a share again and is currently trading at $395. News of the two executives’ sales gives plenty of food for thought, because they sold within a very low price range, as if they thought Apple would not take off again, even though many analysts say the shares are a buying opportunity after their steep cumulative fall.
See also: Warren Buffett: buying Apple shares now is like buying $1 bills for 80 cents
Featured image: Joe Ravi, CC BY-SA 3.0, via Wikimedia Commons.
