Apple CEO Tim Cook sold AAPL stock worth about $41 million after taxes in his biggest sale in more than two years.
Cook sold 511,000 shares, according to a filing with the US Securities and Exchange Commission on Tuesday. He still has about 3.28 million shares in the Cupertino, California-based company where he’s worked for more than two decades, according to data compiled by Bloomberg.
The share sale comes after Cook took a rare pay cut of about 40% to $49 million for 2023. As part of the changes to his compensation, his stock awards tied to Apple’s performance will increase to 75% this year from 50% previously.
Cook’s last major stock sale was in August 2021, when he sold more than $750 million in Apple stock after completing a decade as CEO. After tax withholdings, he netted about $355 million, according to data compiled by Bloomberg.
MacDailyNews Note: Exeecutives routinely sell stock for tax purposes. Cook’s remaining 3.28 million AAPL shares are currently worth US$564.98 million based on the current market price.
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Of course he did.. The stock market is going to hell with his help and all his liberal cronies..
Yup, he sees the handwriting on the wall and get more now as market slows and KeyBanc downgrades Apple. The preachy green Apple mafia, so to speak, is having an impact turning off more people catering to an EXTREME minority.
Sell the rest of your stock and please RETIRE. We need a creative genius to lead Apple forward. Not a lounge loafer running on Steve’s creations spending all his time on removing features, expandability, ports, chargers and counting billions…
Daddy needs a new pair of shoes.