Apple Board Chair Sells Shares, Liquidates Approximately $71 Million

On May 6, Arthur Levinson, chairman of Apple Inc. (NASDAQ: AAPL), sold 250,000 shares of common stock in the open market, realizing approximately $71 million (about KRW 96 billion) in cash. After gifting an additional 5,000 shares, he still directly holds roughly 3.81 million shares and maintains indirect holdings through his spouse. During the same period, Chief Financial Officer Kevan Parek sold a modest number of shares on April 23 under a prearranged Rule 10b5-1 trading plan, while the company’s principal accounting officer, Ben Borders, recorded only the vesting of restricted stock units (RSUs) and associated tax withholding on April 15, with no open-market sales disclosed.

Meanwhile, as part of its recent supply-chain diversification strategy, Apple has reportedly reached a preliminary agreement with Intel to manufacture some of its chips, aiming to ease its current dependence on Taiwan Semiconductor Manufacturing Company (TSMC) (source: The Wall Street Journal).

Apple, a leading big-tech firm anchored by its iPhone, Mac and services segments, remains among the world’s highest market-capitalization companies. Arthur Levinson has served as board chairman since 2011. On April 20, the company announced that Chief Executive Officer Tim Cook will step down on September 1, with Senior Vice President of Hardware Engineering John Turnus set to succeed him, as part of its ongoing executive succession planning (source: Wikipedia).