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.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.