Wednesday, July 31, 2013, 04:06 pm PT (07:06 pm ET)
Apple board members exercise options, sell off AAPL stock worth combined $19MTwo members of Apple's Board of Directors, Millard Drexler and William Campbell, sold company stock worth over $19 million this week, according to a filing with the U.S. Securities and Exchange Commission.
The SEC filings, published on Wednesday, note Monday as the execution date for both Drexler and Campbell's trades, which were together 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 for 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.
The traded common stock came from the two board members' Director Stock Options.
Wednesday's trades comes less than one week following a selloff worth nearly $16.4 million by the company's chief financial officer Peter Oppenheimer.
On Topic: General
- Judge denies Apple bid to recover attorneys' fees from Samsung, releases $2.6M bond related to Galaxy Tab 10.1 ban
- Apple's largest store yet will be its first in the Middle East - report
- Steve Ballmer leaves Microsoft board to concentrate on other responsibilities
- Parallels Desktop 10 for Mac launches with OS X 10.10 Yosemite support, speed boosts, more
- Apple exec Eddy Cue puts Los Altos, Calif., home on the market for nearly $4M