In a recent filing with the U.S. Securities and Exchange Commission (SEC), Apple CEO Tim Cook revealed the sale of 196,410 shares of Apple stock (via. MacRumors).
Based on the average sale price, the total value of these transactions reached approximately $33.2 million. After taxes, Cook is estimated to have netted around $16.4 million.
These shares originated from performance-based stock awards granted to Cook in September 2020 and 2021. It’s important to note that, like other senior Apple executives, Cook has a pre-determined trading plan in place. This plan helps ensure compliance with insider trading regulations by outlining a structured approach to selling company stock.
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Following this sale, Cook retains a significant stake in Apple, still holding roughly 3.3 million shares. He has served as the company’s CEO since 2011, overseeing a period of immense growth and innovation for Apple.
While the reasons for Cook’s decision to sell these shares are not publicly known, it’s commonplace for executives to diversify their investment portfolios. Stock sales like this can also be used for personal financial planning purposes.
It’s also worth mentioning a 2015 Fortune report where Cook expressed a desire to “give away all his wealth.” Whether this planned divestment is connected to that earlier statement remains unclear.
