Spotify CEO Sells $10.6 Million in Shares Amid Tax Withholding

Spotify Technology chief executive Gustav Söderström sold 20,833 shares of the company on August 3, generating proceeds of about $10.6 million. The sale, disclosed to the SEC, was intended to cover tax withholding obligations linked to vested equity awards, leaving the CEO with roughly 20,142 shares valued at $10.2 million.

Separately, Pacific Excel Wealth Advisors Inc. acquired a new stake in State Street Corporation by purchasing 5,819 shares for approximately $987,000, as reported in its latest Form 13F filing. The transaction adds to the growing institutional ownership of the asset manager, which is already held by several large investors.

Both filings highlight recent significant equity movements by an executive and an investment adviser in major U.S. listed companies.