During [former Apple CEO] Amelio’s tenure Apple’s stock continued to slump and hit a 12-year low in Q2 1997 that was at least partially caused by a single sale of 1.5 million shares of Apple stock on June 26 by an anonymous party who was later confirmed to be Steve Jobs. Apple lost another $708 million. On the July 4, 1997 weekend, Jobs convinced the directors to oust Amelio in a boardroom coup ….
The San Francisco Chronicle reported in 1997:
Steve Jobs has confirmed that he sold 1.5 million Apple shares in June …