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07-31-2013, 10:30 PM #1
Apple Board Members Sell Off AAPL Stock Worth $19.03 Million
According to a filing with the U.S. Securities and Exchange Commission, two members of Apple’s Board of Directors sold company stock worth over $19 million this week. The filings reveal that Monday was the execution date for both Millar Drexler and William Campbell’s trades, which together were worth $19.03 million.
Drexler’s selloff accounted for a bulk of the combined assets with the current CEO of J. Crew Group gaining over $14.6 million after trading a total of 32,562 AAPL shares at prices ranging from about $448 to $449. As noted by the SEC, the transactions were executed in multiple trades with reported prices reflecting the weighted average sale price. As far as Campbell, the current Chairman of the Board at Intuit sold exactly 10,000 shares in two separate batches for a total of $4.4 million. The Apple board director executed his trades at average weighted prices ranging from $440 to $441.
Both members of Apple’s Board of Directors traded common stock which they received from the Director Stock Options. The trade also comes less than one week following a selloff worth nearly $16.4 million by the company’s Chief Financial Officer, Peter Oppenheimer.
07-31-2013, 11:11 PM #2
08-01-2013, 02:44 AM #3
Smart move, they know where things are headed for Crapple and it's not gonna increase their shares any
08-01-2013, 03:15 AM #4
That's sad when the execs are dumping millions in stock. Maybe they don't believe the iPhone 5c is an S4 killer.
08-01-2013, 06:01 AM #5
Theyre not selling cause the new iPhones gonna do bad there's something so much more sinister going on here CEOs don't just dump their stocks like that something crazy is about to go down at apple and they were obviously first to find out
08-01-2013, 07:55 AM #6
08-01-2013, 08:17 AM #7
Most of these sell-offs are the first opportunity to sell for these board members as the stock only recently matured including Peter Oppenheimer last week as it's all restricted stock.
They're all about to get more restricted stock and we'll be reading the same crap next time they sell off after it's vested and they are allowed to do so... yet again it will be drama and rumors not facts.
Apple's stock has matured and maybe when the Apple TV drops we'll see an increase again but why leave 20 Million on a stock that won't be making you any at the same time but technically has a risk b/c stocks are volatile. If they could have sold at $700 but are selling now I'd be concerned but in reality they could have sold last month and it makes sense to wait until you release positive quarterly earning to get the most from you sale.
Last edited by REMED1AL; 08-01-2013 at 08:24 AM.
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08-01-2013, 01:12 PM #8
Here is the thing people have to think about. Would you rather have $9million and get it up front or would you take a risk and try to keep it invested? That's a lot of money. Most people in their right minds would take the money and not risk it.