Apple CEO Tim Cook receives $3.6M from small sale of 30,000 shares, weeks after $1.5M pay ...

Posted:
in AAPL Investors
A small cache of 30,000 Apple shares were sold by Apple Chief Executive Tim Cook this week as part of a scheduled trading plan, with Cook receiving a total of $3.6 million from the company stock sale.




A filing with the U.S. Securities and Exchanges Commission reveals Cook made three transactions on subsequent days, From January 17 to January 19. On each day, 10,000 common stock shares were sold, with an individual share price of $120 on the form making each transaction worth $1.2 million.

After the three transactions, Cook still owns 1,009,809 shares, currently worth in excess of $121 million.

The small scale offloading of shares comes shortly after executives received a pay cut for missing performance targets, with Cook losing $1.5 million of his bonus pay. Even with the pay cut, Cook still received $8.7 million in total compensation for the year, though this still is lower than payments Cook received in 2014.

While Cook's shares were sold as part of a predefined trading plan, it is unclear if the sale is in response to the pay cut.

In August last year, Cook received a total of 1.26 million restricted stock units (RSUs) - 980,000 time-based and 280,000 performance-based RSUs, vesting after five years in the role as CEO. Shortly after vesting, Cook sold off around a third of his share stockpile, at the time leaving him with 1,309,692 shares in his trust.

Cook is due to receive a number of other stock rewards in the future, including 700,000 RSUs due to vest on August 24, 2021, and five annual installments of performance-based RSU awards that will run until 2021.

Comments

  • Reply 1 of 13
    eightzeroeightzero Posts: 1,946member
    Bills due at the end of the month.
    dogmanSpamSandwich
  • Reply 2 of 13
    dewmedewme Posts: 1,270member
    He must be getting sick of Ramen noodles, McDonalds 99 cent value menu, and day old donuts.
    dogmanStrangeDaysdamn_its_hot
  • Reply 3 of 13
    Guess he can't live on his remaining salary after that $1.5 million pay cut.
    caliravnorodom
  • Reply 4 of 13
    It wasn't a "pay cut" -- there are tiered levels of bonus pay on top of executive salary, and the execs didn't unlock the top tier. saying "pay cut" is using loaded language that tries to paint it as something other than what it was. 
    ai46anantksundaramcalidamn_its_hotadmiral.ashikjony0
  • Reply 5 of 13
    dogman said:
    Guess he can't live on his remaining salary after that $1.5 million pay cut.
    I know I couldn't live on my salary after a $1.5M pay cut 
    zoetmb
  • Reply 6 of 13
    macxpressmacxpress Posts: 4,222member
    It wasn't a "pay cut" -- there are tiered levels of bonus pay on top of executive salary, and the execs didn't unlock the top tier. saying "pay cut" is using loaded language that tries to paint it as something other than what it was. 

    Anything to make it sound negative is what we do best...
    admiral.ashik
  • Reply 7 of 13
    It's like giving a kid a $1000/week allowance and docking them a nickel for not unloading the dishwasher.  No message was sent or received.
    tallest skil
  • Reply 8 of 13
    calicali Posts: 3,495member
    Pay cuts!! Tim cook selling his stock!! No one bought iPhone 5,6,6s,7 because they're waiting for iPhone 11!!! Doom!!

    Apple will be closing doors tomorrow!!! Many Apple stores tonight!! tonight!!


    on another note there was talk a few years ago that Cook would donate all his money to charity. Did that ever happen?
  • Reply 9 of 13
    eightzeroeightzero Posts: 1,946member
    cali said:
    Pay cuts!! Tim cook selling his stock!! No one bought iPhone 5,6,6s,7 because they're waiting for iPhone 11!!! Doom!!

    Apple will be closing doors tomorrow!!! Many Apple stores tonight!! tonight!!


    on another note there was talk a few years ago that Cook would donate all his money to charity. Did that ever happen?
    My recollection is that he had promised to donate all his money to charity in his will. Given that he appears to still be alive (contrary to sog's desires) i'm guessing it has not yet happened.
  • Reply 10 of 13
    eightzeroeightzero Posts: 1,946member
    macxpress said:
    It wasn't a "pay cut" -- there are tiered levels of bonus pay on top of executive salary, and the execs didn't unlock the top tier. saying "pay cut" is using loaded language that tries to paint it as something other than what it was. 

    Anything to make it sound negative is what we do best...
    Sad!
  • Reply 11 of 13
    sog35 said:
    eightzero said:
    cali said:
    Pay cuts!! Tim cook selling his stock!! No one bought iPhone 5,6,6s,7 because they're waiting for iPhone 11!!! Doom!!

    Apple will be closing doors tomorrow!!! Many Apple stores tonight!! tonight!!


    on another note there was talk a few years ago that Cook would donate all his money to charity. Did that ever happen?
    My recollection is that he had promised to donate all his money to charity in his will. Given that he appears to still be alive (contrary to sog's desires) i'm guessing it has not yet happened.
    Huh? I love Timmy.  Ever since I found Buddha, I've been supporting Cook 120%
    Huh !? Where was he (i.e., the big B?

    I guess I just didn't miss him cause he is so damn quiet - even when getting his tummy rubbed.
    edited January 2017
  • Reply 12 of 13
    bigmikebigmike Posts: 245member
    hard times, son... hard times.
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