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Tim Cook sells over 220,000 Apple shares worth over $50 million

Tim Cook also received 54,876 shares of Apple stock this week.

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Image: Apple

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Tim Cook, the CEO of Apple, has sold over 220,000 shares of the company’s stock, worth more than $50 million. Although Apple stock has traditionally been one to hold for the long term, it’s not uncommon for CEOs to occasionally sell off some of their shares. 

This technique is entirely legal because sales delays are necessary to stop insider trading. As of early 2024, Cook held more than three million Apple shares and 1.3 million unvested RSUs.

His compensation consists primarily of stock grants, with his unsold stock valued at over $500 million.

Tim Cook sold over $50 million worth of Apple stocks 

A recent filing with the US SEC (Securities and Exchange Commission) states that Tim Cook sold 223,986 shares for a total of $50,276,076.

The company’s CEO usually sells Apple shares in October, so this is not an unusual action on his part. For example, Cook made almost $41.5 million in 2023 from the sale of Apple stock. In April 2024, Apple’s CEO also sold shares worth around $16 million.

As per a MacRumors report, Apple’s CEO was given 219,502 company shares earlier this week as part of a performance-based award. This prize is determined by comparing Apple’s shareholder return to other S&P 500 businesses.

The report also mentioned that Cook bagged 54,876 shares this week, which will vest in one-third increments in April 2027, 2028, and 2029.

The remaining 164,626 shares are performance-related and will only vest on October 1, 2027. Depending on Apple’s success between fiscal years 2025 and 2027, Cook will vest up to 200% of the shares.

In addition to his base pay of $3 million for the fiscal year 2023, Apple’s CEO frequently receives other performance awards and stock awards. In 2023, he earned $10.7 million in non-equity income, $47 million in stock awards, and $2.5 million in other remuneration, mostly for security-related expenses.

What do you think about Apple CEO selling his stocks in the company? Do you own any Apple stock yourself? Let us know what you think in the comments below, or ping us on our Twitter or Facebook for a chat.

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Ronil is a Computer Engineer by education and a consumer technology writer by choice. Over the course of his professional career, his work has appeared in reputable publications like MakeUseOf, TechJunkie, GreenBot, and many more. When not working, you’ll find him at the gym breaking a new PR.

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