Apple CEO Tim Cook has sold approximately 7% of his 3 million Apple shares, netting over $50 million. The transaction, reported in a U.S. Securities and Exchange Commission filing, involved the sale of 223,986 shares of Apple stock.
Earlier in the same week, Cook was granted an additional 219,502 shares of Apple stock. 54,876 of these shares will vest in one-third increments in April 2027, 2028, and 2029. 164,626 shares are performance-based, set to vest on October 1, 2027, depending on Apple’s performance from fiscal 2025 to 2027, as reported by Benzinga.
Despite this sale, the Apple CEO still maintains a substantial stake in Apple. As of early 2024, Cook held over 3 million Apple shares. His unsold stock is valued at over $500 million. Stock grants form the bulk of his compensation package.
This is not the first time Cook has sold large amounts of Apple stock. In 2021, he sold 5 million shares for an estimated $355 million, and in October 2023, he sold shares worth approximately $41.5 million, as reported by Times of India.
So why did Cook do it? This stock sale by the Apple CEO, while it looks significant, appears to be part of his regular financial management strategy and doesn’t necessarily indicate any change in his confidence in Apple’s future prospects. He was recently granted an additional 219,502 shares of Apple stock, and moreover, he sold shares worth approximately $41.5 million around the same time.