Tim Cook has sold Apple stock worth over $50 million.
Apple’s CEO, Tim Cook, has sold over 220,000 shares of Apple stock, which are valued at more than $50 million.
Apple stock has always been one to hold long-term, but executives tend to sell off some stock from time to time. The practice is all above board, given delays on sales required to prevent insider trading practices.
According to a recent filing with the U.S. Securities and Exchange Commission, Cook sold 223,986 shares for a total amount of $50,276,076.
It is not an unusual move for the company’s CEO, as he often sells Apple stock in October. In 2023, for instance, Cook gained around $41.5 million by selling Apple shares. Tim Cook also sold a significant amount of shares in April of 2024, which earned him roughly $16 million.
As originally spotted by MacRumors, Apple’s CEO was granted 219,502 shares of Apple stock earlier this week, which he received as part of a performance-based award. This award is tied to Apple’s shareholder return compared to other S&P 500 companies.
Of the shares Tim Cook received this week, 54,876 shares will vest in one-third increments in April 2027, 2028, and 2029, while 164,626 shares are performance-related and will only vest on October 1, 2027. Up to 200% of the shares will vest, depending on Apple’s performance in fiscal years 2025 through 2027.
Apple’s CEO often receives different performance awards and stock awards, on top of his base salary, which equated to $3 million for fiscal year 2023. During the same year, he received $47 million in stock awards, and made $10.7 million from non-equity compensation, along with $2.5 million in other compensation — mainly security-related costs.
This article was first published at Source link . You can check them out for other stuffs