Apple CEO Tim Cook Sells Almost 200,000 Shares In The Company, Which Are Valued At A Hefty $33 Million
During this week, Apple’s Chief Executive Tim Cook sold 196,410 shares of the company’s stock. Based on the average sale price of the transaction, the total value of these shares is $33.2 million, which is a massive payday for the CEO of the world’s most valuable company, but he will not pocket the entire amount.
Last year, we reported that Cook made $63.2 million as part of his compensation. Out of that amount, $3 million was his base salary, followed by $47 million in stock awards, $10.7 million in performance-based bonuses, and $2.5 million in other compensations. Those compensations include 401(k) contributions, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.
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After taxes, Tim Cook will net around $16.4 million and still owns hundreds of thousands of shares in Apple
A U.S. Securities and Exchange Commission filing spotted by MacRumors revealed that after taxes, Tim Cook would keep approximately $16.4 million of those earnings. Even with the latest sale, the Apple CEO has plenty of stake in the company, with the details mentioning that he still owns 3.3 million shares after selling the 200,000. A note on the SEC filing says that the sale ‘was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2022.’
The statement above suggests that Cook’s shares are automatically put up for sale when certain requirements have been fulfilled, though those details are currently in the dark. AppleInsider states that insider trading laws govern how company executives can or cannot sell their shares, but Cook has the option to sell them out of his predetermined plan.
The last time he carried this out was in 2021 when he received five million shares that were a part of his original 2011 contract for effectively taking on the role of Apple’s CEO. The $16 million that Cook pocketed is
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