Tim Cook makes $41.5 million in his first Apple stock sale since 2021
Two years after he last sold any of his shares in Apple, CEO Tim Cook has chosen a time when APPL is lower than usual, to sell off around half a million shares.
Tim Cook
Back in 2021, Cook received five million shares in Apple as part of the deal he received when starting as CEO yet years before. At that point, he sold off all of those shares, earning approximately $355 million.
According to Reuters, he's now received a comparatively modest $41.5 million from the sale of 511,000 shares. Before taxes, the sale price was around $87.8 million.
Reportedly, Cook still owns approximately 3.3 million shares, which are worth $585 million.
It's not unusual for Apple executives to sell shares, but notably Cook was one of the few to not sell any in 2022.
Read on AppleInsider
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So many people are saying that Apple isn’t really innovating much anymore. The market is pretty stagnant. I’m not sure where you want Apple to innovate? Apple have done a lot under Cooks watch, not to mention increase market cap beyond belief!
In September of 2020 he received an RSU award which would have more than 100,000 shares vest in each of April 2023, April 2024, and April 2025. When that first time-based tranche vested in April he sold all of them less the nearly 50% which were withheld for tax purposes. That's what he typically (though not always) does. He would have received around $9 million from the sale of those shares.
That RSU award also included a performance based tranche which would have between 0 and nearly 700,000 shares vest this October. As it turned out he had a little over 500,000 shares vest and sold all that remained after more than 50% were withheld for tax purposes.
As for 2022, he didn't sell any shares that year in large part because he didn't have any shares vest that year.
Sales of stock by c-suite executives at public companies are scheduled months (usually 6 or more) in advance, on a schedule, that has to be submitted to the SEC. While not a perfect solution, the goal is to avoid shenanigans based on insider knowledge that there would be no way for a CEO to not have.
The overwhelming likelihood is that the sale was for to pay taxes, or to reimburse for taxes paid—Q4 (tax year, not Apple's fiscal year) just started on October 1st, so there would've been an estimated tax payment due at the end of September, something anyone in Tim's income class would be required to pay.
Doesn't mean that some of the money isn't intended for whatever Tim would like to spend his money on—solid gold rocket car, whatever—but that as a CEO, he has far less control over when he sells stock grants than any of us normies who can buy and sell stock as we wish.
That what your Ad Hominem. You arguing that the striking workers you hypocrites (sans any evidence) and using that to delegitimize their stance. Arguing that a person or persons should be discounted due to their hypocrisy is one of the most common forms of the Ad Hominem attack. A person behind hypocritical doesn't make them wrong, it makes them inconsistent. You went after the person for being inconsistent rather than addressing the substance of what they said. That is a text book Ad Hominem fallacy.
I think Tim Cook is one of the best leaders and should be paid a lot more.
https://appleinsider.com/articles/22/01/07/tim-cooks-net-worth-is-now-over-1-billion-after-2021
Even if he deserves more, giving him more wouldn't make much difference.
https://ayafintech.network/blog/apple-ceo-tim-cook-maintains-a-frugal-low-key-lifestyle/
"Cook leads a frugal solitary life, buys clothes-and-shoes at the Nordstrom semi-annual sale, and lives in a relatively modest $1.9 million home in Palo Alto"
https://manufacturingdigital.com/lean-manufacturing/tim-cook-doesnt-fear-failure-plus-11-other-facts-you-didnt-know-about-apples-ceo
"He is very frugal both as a manager and in his personal life. Cook lived in a rental apartment for years without air conditioning. As a manager, he is described as someone who “would haggle over a nickel to drive profits.”"
https://www.macworld.com/article/677835/has-tim-cook-bought-his-retirement-home.html
The homes he buys are a few million dollars.
Even if he went full showboating in retirement like Bezos, he could afford this too:
https://www.scmp.com/magazines/style/celebrity/article/3213036/9-surprising-facts-about-jeff-bezos-new-mega-yacht-koru-it-cost-us500-million-size-2-airbus-a380s
Wealthy people often use their wealth to try and add meaning to their lives with expensive vacations, events and property like the Kardashians. Tim Cook doesn't seem like the type:
Steve Jobs took a $1 salary and died a billionaire, I could see Tim Cook doing the same. Otherwise, he will probably give most of it away.