Tim Cook, the CEO of Apple, has sold more than 223,000 shares of Apple stock, totaling over $50 million. According to a filing with the U.S. Securities and Exchange Commission (SEC), the transaction was part of a planned sale, as Cook regularly sells Apple shares around this time of year. This sale adds to Cook’s previous stock transactions, such as the $16 million worth of shares he sold earlier in April 2024.
Stock Sales Part of Routine Practice
Cook’s recent stock sale is not an unusual event for Apple’s chief executive. In October 2023, he sold Apple stock worth $41.5 million. The sale is part of a broader trend among corporate executives, who sell portions of their stock holdings periodically. This practice, strictly regulated to avoid insider trading, allows executives like Cook to capitalize on the value of their performance-based stock awards.
Performance Awards and Tim Cook’s Compensation
Much of Cook’s stock comes from performance-based awards. In fact, earlier this week, he received an additional 219,502 shares as part of a performance award linked to Apple’s stock performance compared to other S&P 500 companies. A portion of these shares will vest in 2027, 2028, and 2029, based on the company’s performance over the next few years.
Tim Cook’s total compensation package for fiscal year 2023 included a base salary of $3 million, along with stock awards valued at $47 million. In addition, Cook earned over $10 million in non-equity compensation, plus $2.5 million in other benefits, primarily covering security expenses.
