Tim Cook sells Apple stock worth in excess of $50 million
Apple's CEO, Tim Cook, has sold over 220,000 shares of Apple stock, which are valued at more than $50 million.
Tim Cook has sold Apple stock worth over $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.
Read on AppleInsider
Comments
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You’re reading far too much into this than there is to read.
You realize Jobs was worth somewhere in the ballpark of $10 Billion when he passed, right? Cook is worth a fraction of that and has clearly stated he intends to donate the vast majority of his wealth to charity, and has been doing just that.
https://appleinsider.com/articles/15/03/27/apples-tim-cook-plans-to-give-away-all-of-his-money
So, yeah, you are missing something.
Not entirely true, he does get paid a salary and other compensation, though the stock awards are by far the largest portion of his pay:
It's not about the money, money, money
We don't need your money, money, money
We just wanna make the world dance
Forget about the price tag
Ain't about the, uh, cha-ching, cha-ching
Ain't about the, yeah, ba-bling, ba-bling
Wanna make the world dance
Forget about the price tag
At the end of the day, you have to look out for yourself and do everything you can to carve out a life that you enjoy using whatever you have to offer, like hard work and perseverance. Cutting back Tim's salary, or the salary of say the many elite professional sports players, isn't going to put more money in your pocket. That's not the way it works.
The massive CEO salaries are used a benchmark for companies to compare "their CEO" to their competitor's CEOs for bragging rights and to attract top talent, just like top sports teams want the best of the best on their team. Most of us are so far removed from that world that we look at it like we watch sports teams compete. Unless you're a gambler, which shareholders basically are, there's really nothing in it for you from a financial standpoint.
Anyway, I don't hear the shareholders complaining. Go Tim go. Bring us some more big wins for Team Apple.
Compared to Microsoft at $3.096 trillion, HP Inc. at $34.31 billion, or IBM at $205.2 billion .
If you own an S&P 500 index ETF, Apple is likely the largest percentage of the fund.
AAPL is likely 7% of the fund, with MSFT around 6.5% and NVDA around 6.1%.
Saudi Aramco market cap. is around $1.744 trillion (or about SAR 6.5 trillion}.
Most chief executives periodically sell large chunks of stock.
Decades ago, Bill Gates owned a much larger percentage of Microsoft stock (than currently).
Gates owned 45% in 1986, but 1.34% in 2019 (shortly before retirement).
He's very deserving of what he got. And, it's not like people who work at Apple are making minimum wage here. They're generally paid quite well.