“SEC filings reveal that Apple CEO Tim Cook has sold a little over 600,000 of his AAPL shares over the past couple of weeks, netting him approximately $65M,” Ben Lovejoy reports for 9to5Mac. “He continues to hold more than a million shares worth some $110M.”
Lovejoy reports, “Apple stock forms the majority of Cook’s income, his salary being a comparatively modest $2M last year.”
“It’s not known why Cook has sold such a large number of shares,” Lovejoy reports. “He announced last year that he would be giving away almost all of his wealth in the course of his lifetime.”
Read more in the full article here.
MacDailyNews Take: Cook still has about 3.5 million shares in Apple that are set to vest over the next five years and he still holds over 1 million shares in Apple that are currently worth around $110 million.
These sort of sales are usually programmed in advance and are used to pay taxes. As these are large sales, perhaps Cook is setting up a foundation or something as he seems to prefer to live modestly, eschewing large mansions, yachts, jets, etc.