By Daisuke Wakabayashi | The Wall Street Journal
An executive from bankrupt Apple supplier GT Advanced Technologies who oversaw its troubled sapphire production facility set up a plan to sell part of his shareholdings after the company failed to meet Apple’s technical milestones on time.
Daniel Squiller, GT Advanced Technologies’ chief operating officer and the point man at the Mesa, Ariz. sapphire plant it opened in partnership with Apple, sold $1.2 million of stock in May and set up a plan under which he sold another $750,000 of shares over ensuing months before the company filed for bankruptcy on Oct. 6, according to filings.
Squiller’s sales came after initial signs of trouble at GT’s sapphire plant.
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