Oh, No… Did Apple’s GC Unload Too Early?
Bruce Sewell is Apple’s general counsel and seniorVP of Legal and Global Security.
In the biggest rally in five years, Apple Computers’ stock surged 11 percent in the past week — unfortunately too late for five Apple executives, including the company’s general counsel — who unloaded a massive amount shares in August, according to Bloomberg.
Apple’s stock is up 7 percent for the month, thanks to booming sales of its latest iPhone.
The Bloomberg article reports that General Counsel Bruce Sewell sold 23,305 shares in early August followed by a second sale of 24,000 shares, for a total gain of approximately $5 million, according to SEC filings. He still owns 192,000 shares.
Reporter Gabe Friedman says the GC is doing OK, though:
Sewell has had a big year: He was the number one highest paid GC on Big Law Business’ list, which compared the total compensation received among companies that disclosed their GC’s compensation in their proxy statement. (Not all companies do.)
