Apple CEO Tim Cook is taking advantage of the monstrous bonus he unlocked on his fifth anniversary at the helm of Apple by selling 334,000 shares for a big payday.
Priced between $107.21 to $107.69 per share, the stock dump netted Cook more than $35 million. Not a bad bonus for the most powerful man in tech.
A recent SEC filing revealed that in order to comply with minimum statutory tax withholding requirements for the RSUs that vested on Tim Cook’s fifth anniversary, Apple sold 656,117 shares on his behalf.
The Apple CEO still owns over 1.3 million shares worth over $140 million.
Apple awarded Cook 980,000 Apple shares for his performance as part of the larger compensation package he signed in 2011. With his big five-year bonus, Cook is poised to be one of the highest paid CEOs in the US for 2016.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
3 responses to “Tim Cook cashes in over $35 million worth of Apple shares”
Just before iPhone 7 announcement ? And while he knows his tax deal is illegal and will be required to pay it back – we can expect the value lf Apple’s shares to dwindle in the coming days – and it seems that Tim knows that and is making a sell before it hits the fan… not a good sign from a CEO
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You have to pay capital gains or tax when options exercise, that is likely the cause. Not some troll fantasy. He cashed in 35%, which is real income tax rate, likely a little pocket money to boot. Maybe he wants to buy an iPhone 7