Jeff Williams and Bruce Sewell Cash in Apple Stock Worth Nearly $15 Million

Discussion in 'Mac Blog Discussion' started by MacRumors, Jun 26, 2013.

  1. MacRumors
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    MacRumors

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    Two filings with the U.S. Securities and Exchange Commission reveal that Apple executives Jeff Williams and Bruce Sewell each sold tens of thousands of shares of Apple stock on Monday, netting both millions of dollars.

    Bruce Sewell, Apple's general counsel and Senior Vice President of Legal and Government Affairs, sold 37,172 shares for approximately $15 million while Jeff Williams, who serves as Apple's Senior Vice President of Operations, sold off 36,819 shares of stock, also earning approximately $15 million.

    Bruce Sewell and Jeff Williams were among Apple executives who were awarded 150,000 RSUs in 2011 as an incentive to remain employed at Apple. Half of those shares vested on June 21, 2013. The other half will vest on March 21, 2016. In addition to 75,000 RSUs vesting in 2016, Sewell and Williams both have thousands of shares of stock remaining.

    The transactions made by Sewell and Williams were in accordance with SEC Rule 10b5-1, which means the two executives notified the SEC that they planned to sell shares months ahead of the sale to avoid any accusations of insider trading.

    Article Link: Jeff Williams and Bruce Sewell Cash in Apple Stock Worth Nearly $15 Million
     
  2. zin
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    #2
    Judging how the previous thread last year went with the other executives cashing their shares, this is how I predict this thread will go:

    Nobody deserves that much money.
    :rolleyes: They earned all of it.
    Good for them, they did good. :)
    *Thread descends into the irrelevancy of economics and politics, discussing topics such as the minimum wage, Socialism vs Capitalism, and Europe vs USA*
    *Thread may be closed for a while to stop the ship sailing off course*

    :p
     
  3. WorldTravelBro
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    #3
  4. iMikeT
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  5. AbSoluTc
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    AbSoluTc

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    #6
    They know the next iPhone is going to be flop. Lol
     
  6. dampfnudel, Jun 26, 2013
    Last edited: Jun 26, 2013

    dampfnudel
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    #7
    I'm curious what Apple's response would be. Would they introduce the iPhone 6 five to six months earlier than originally scheduled to salvage their stock/investor confidence? I'm planning on getting a 5S and wouldn't be too happy if I "joined" the iPad 3 club.
     
  7. jfx94
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    #8
    I wish I had 37,000 units of apple stock that I could sell. :)

    Nice lump of change.
     
  8. Newton70
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    #9
    You can probably wait a week or two until after the 5S is released to see how well it's selling which, in turn, may give you a better idea of when the iPhone 6 will come out. For example, if folks don't snatch up as many of the 5S models because its physical design resembles that of the then four year old iPhone 4 I could see Apple moving up the introduction of the 6.
     
  9. bedifferent
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    bedifferent

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    #10
    I want to be white, old and a geek. Sigh. :p

    ----------

    ha! That is spot on.
     
  10. Wang Foolio
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    #11
    The AAPL stock price is proof of no insider trading. Pretty much any point in the last 6 months would have been 10-30% more stock value :p
     
  11. mrxak
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    #12
    Executives sell stock all the time. It's not a big deal. It's how they got paid. You can't buy a new boat or house with stock, and only an idiot keeps all their money in shares of one company, no matter how well you think it'll do in the future.
     
  12. carlgo
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    #13
    As Al Bundy said "Pizza and h**kers on Fridays!" when he thought he was rich.
     
  13. Titanium81
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    Titanium81

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    #14
    15 Million??? Thats all???? Thats pennys to Apple.
     
  14. M-O
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    M-O

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    #15
    talk about selling low. if they sold last week they would have gotten about $700,000 more.
     
  15. jread
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    #16
    I am a member of the iPad 3 club... please don't remind me. I know that people on here love to complain about Apple screwing their customers over, but the iPad 3 crap was a case where Apple really DID screw their customers over.
     
  16. ValSalva
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    ValSalva

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    #17
    I have an iPad 3. I haven't followed why people who bought it would be upset. Because the iPad 4 was released earlier than one year later? I still think my iPad 3 is great. Why do you feel screwed over?
     
  17. Mike MA
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    #18
    More and more seem to pick up the cash. Do they know something? :D
     
  18. Rocketman
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    #19
    It looks like they sold at the bottom of the market, with what appears to be a double bottom forming at just under $400 recently. They must be desperate for liquidity or selling low to minimize tax impact.

    Rocketman
     
  19. JGowan
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    JGowan

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    #20
    I'm sure they, like most of us, were probably counting the days until the stock vested -- time to move into really, really (really) nice new digs and enjoy themselves. They obviously are top minds in their fields and deserve their rewards. All the best to them.
     
  20. jonnysods
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  21. lamerica80
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    lamerica80

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  22. mtbgtr
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    #23
    "The transactions made by Sewell and Williams were in accordance with SEC Rule 10b5-1, which means the two executives notified the SEC that they planned to sell shares months ahead of the sale to avoid any accusations of insider trading."

    Sounds like they had no idea the stock would fall as much as it did since they told the SEC months ago they were going to sell. Quite obvious they didn't get out while the gettings good. Since the Wall Street thieves are seriously manipulating Apple stock its anyone's guess outside Wall Street which way its headed. The whole system is rigged anyways.
     
  23. dysamoria
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    dysamoria

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    #24
    It's totally relevant. I myself was coming here to see if anyone felt like me ("oh yay, another story about the wealthy becoming more wealthy. I'm so glad. I really feel like a true member of this society now. Thanks for keeping us up to date about the wealth of the wealthy people who control our society. Couldn't think of a better use for a site like this.").

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    Every time these rich dude stock sale stories come up, I see the forum become alive with people that think they know the real deal on playing the market, making money, etc. As if they're peers of these wealthy dudes.

    I think I finally realized what is going on. People are living vicariously through other people's wealth because they can't play with their own in the same way. It's just another type of gawking jealousy, like reality television featuring the rich and famous.

    I know, big news; I'm slow. But I don't play along, so you have to give me points for noticing this from way outside the game. :p
     
  24. Jibbajabba
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    #25
    'They notified the SEC months ago' - I doubt they could have predicted it then.
     

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