Bruce Sewell, Apple Inc. (NASDAQ:AAPL) senior vice president and general counsel sold approximately $12 million of stock on Monday after 25,000 restricted stock units (RSUs) vested, according to a filing with the United States Securities and Exchange commission (SEC).
Shares were sold in different batches
As revealed by a Form 4 document, Sewell sold off $11.9 million of stock, which included $5.9 million withheld to comply with the minimum statutory requirements on vested RSUs. The trade, which amounted to 12,686 shares, occurred on Saturday when the 25,000 RSUs vested.
Shares totaling approximately 12,314 were sold in different batches with prices between $483 and $492. Further, the shares were sold off in more than one trade, and the price reported is the weighted average sales price.
Sewell sold shares in June also
Sewell Started working with Apple Inc. (NASDAQ:AAPL) in September 2009, after parting from Intel Corporation (NASDAQ:INTC) where he held a similar position as the chip maker’s legal and corporate affairs chief for eight years. Before this, he was the senior Attorney at Intel for six years, looking after antitrust compliance, licensing and intellectual property.
Earlier in June, Bruce Sewell and Jeff Williams had each dumped $15 million worth of Apple Inc. (NASDAQ:AAPL) stock, according to SEC filings. Sewell, back in June, sold off 37,172 shares, which were priced around $399-$405. Williams, SVP at Apple sold 36,819 around the same price.
The shares were sold under SEC rule 10b5-1, which implies that the information about selling the shares has been given to the SEC in advance.
Eddy Cue sold Apple stocks last month
In the previous month, Apple Inc. (NASDAQ:AAPL) senior vice president of Internet Software and Services, Eddy Cue received 50,000 restricted stock units, and sold off 24,580 shares at a price of $504.18 to net $12,392,700. He held the remaining 25,420 units at a price of $501.02 per share to comply with the minimum statutory tax requirements on vested RSUs.
The shares sold by Cue were part of a 100,000 unit award granted in September 2011, and the next half of the shares will be vested in August 2014 on the condition of continued employment.