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Tim Cook Nets $41.5 Million After Selling Over 500,000 Apple Shares

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Apple CEO Tim Cook netted around $41.5 million after taxes this week after selling 511,000 shares of Apple stock that he received as part of a performance-based award, according to a filing released by the U.S. Securities and Exchange Commission.

Tim-Cook-MacBook-16x9.jpeg

The stock award was determined based on Apple's total shareholder return relative to the other companies in the S&P 500 between the first day of Apple's 2021 fiscal year and the final day of Apple's 2023 fiscal year. Based on this metric, Apple ranked 141 of the 480 companies that were included in the S&P 500.

Cook still owns nearly 3.3 million shares of Apple following the sale, the filing indicates.

Cook was awarded an additional 73,010 restricted stock units, with one-third of the units to vest on April 1 each year in 2026, 2027, and 2028. He was also awarded 219,030 performance-based restricted stock units that are scheduled to vest on October 1, 2026, but this amount is subject to change based on Apple's S&P 500 performance.

In a 2015 interview with Fortune, Cook said that he planned to give away all his wealth, after paying for his nephew's college education. Cook said that he would take a "systematic approach to philanthropy."

Cook has been CEO of Apple since 2011, and he has worked at the company for 25 years.

Article Link: Tim Cook Nets $41.5 Million After Selling Over 500,000 Apple Shares
 
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jayducharme said:
I recall how Steve Jobs famously took just $1 a year as his salary. His pay was company stock. So the better the company did, the more he made. If only all companies operated that way.
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and hows that different from Cook? he sold the stock that was basically his bonus salary.

not to mention Jobs lived off massive dividends from Disney IIRC.
 
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MacRumors said:


Apple CEO Tim Cook netted around $41.5 million after taxes this week after selling 511,000 shares of Apple stock that he received as part of a performance-based award, according to a filing released by the U.S. Securities and Exchange Commission.

Tim-Cook-MacBook-16x9.jpeg

The stock award was determined based on Apple's total shareholder return relative to the other companies in the S&P 500 between the first day of Apple's 2021 fiscal year and the final day of Apple's 2023 fiscal year. Based on this metric, Apple ranked 141 of the 480 companies that were included in the S&P 500.

Cook still owns nearly 3.3 million shares of Apple following the sale, the filing indicates.

Cook was awarded an additional 73,010 restricted stock units, with one-third of the units to vest on April 1 each year in 2026, 2027, and 2028. He was also awarded 219,030 performance-based restricted stock units that are scheduled to vest on October 1, 2026, but this amount is subject to change based on Apple's S&P 500 performance.

Cook has been CEO of Apple since 2011, and he has worked at the company for 25 years.

Article Link: Tim Cook Nets $41.5 Million After Selling Over 500,000 Apple Shares
Click to expand...
Yet my when I get my $0.88 per share check each year they tell me not to sell and rather choose to reinvest that amount.

Selling shares like this isn’t good. Apples stock might fall even further because the lack lusters iPhone updates and the Fine*woven disaster.

If he’s selling that many shares. Maybe it’s time I do the same.
 
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jayducharme said:
I recall how Steve Jobs famously took just $1 a year as his salary. His pay was company stock. So the better the company did, the more he made. If only all companies operated that way.
Click to expand...
Steve already had a few hundred million though by that time.

He genuinely loved what he did, and he made people's lives better, which is what businesses should be about.
 
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ProfessionalFan said:
I'm sure there will people saying this shows he sees the demise of Apple coming and they'll ignore this line completely:

"Cook still owns nearly 3.3 million shares of Apple following the sale, the filing indicates."
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This is just standard diversification + these are scheduled pre-cleared trades (lest you want to incur the wrath of the SEC for insider trading). Nothing to see here.
 
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spcopsmac21 said:
Discounts ALREADY. Ugh, I think it might have something to do with products not meeting the markets or consumers expectations.
I think it has ALOT to do with it.
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But do you have any concrete info on why the discounts are happening. Pure speculation?
 
stillnottimecook said:
This is just standard diversification + these are scheduled pre-cleared trades (lest you want to incur the wrath of the SEC for insider trading). Nothing to see here.
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I know. But it's the same crowd of people that come in here after events and say "The stock is tanking cause of no innovation". Meanwhile it is down $1.50 and it always goes down after an event (buy on the rumor, sell on the news).
 
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Crowbot said:
But do you have any concrete info on why the discounts are happening. Pure speculation?
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These 3% discounts happen with every product from Apple, it's a way for these retailers to get some people into their store/website. No matter the success of the product. I don't know if people are acting like it doesn't happen or somehow actually don't know.
 
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Crowbot said:
But do you have any concrete info on why the discounts are happening. Pure speculation?
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You can only speculate. Selling of shares, major issues with product launches. Pooling all of the available information at hand…. Sounds like things in the garden are not as perfect as we thought.
Once again. Speculation.
Apple discounting a brand new flagship products so early?
 
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Tim Cook is one of the least innovative CEOs for one of the most innovative companies in the world. I think Steve Jobs knew he made a mistake, but it was too late. It’s amazing. The board has not brought in someone more able for this type of company. Apple has become the follower instead of the leader in, home computing and cellular technology
 
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