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Tim Cook, CEO of Apple, has sold $50 million in Apple stock, according to recent SEC filings. The substantial sales amplified discussions about executive decisions as Apple maintained its market dominance.
Tim Cook’s $50 Million Stock Sale Shakes the Market
The SEC filing shows that Apple CEO Tim Cook will soon have $50 million more in his pocket after selling 223,986 shares of Apple stock, for a total of $50,276,076, as reported in the filing. Cook frequently sells Apple shares in October, and he originally received the stock as a performance-based award tied to the company's shareholder return compared to other S&P 500 businesses.
Earlier this week, Cook was awarded an additional 219,502 shares of Apple stock, as reported by MacRumors.
Cook’s Remaining Shares Worth Over $500 Million
In April of 2027, 2028, and 2029, 54,876 shares will vest in one-third increments. The vesting date for the 164,626 performance-based shares is October 1, 2027. The vesting percentage of the target number of shares might range from zero to two hundred percent, depending on Apple's performance from fiscal 2025 to fiscal 2027.
Over the next two years, the total bonus will be determined by Apple's total shareholder return in comparison to the returns of other firms in the S&P 500.
Apple’s Growth Continues to Benefit Tim Cook
Over three million shares of Apple stock and an extra 1.3 million unvested RSUs were in Cook's possession as of early 2024. Stock grants are the bulk of Cook's overall remuneration, and his unsold shares are valued at more than $500 million.
Contributions to his 401(k) and term life insurance, vacation cash-out, security expenditures, and personal air travel totaled $2.5 million in 2023, on top of his $3 million base salary and $47 million in stock awards and $10.7 million in performance-based bonus awards.
