Tim Cook has cashed in on his Apple stock again, with regulatory filings revealing that he has sold AAPL shares worth $3.6 million.
This comes shortly after he made an almost identical trade last week for another $3.6 million. It seems that being Apple CEO comes with some advantages!
Last year was Cook’s most lucrative yet at Apple, as he unlocked bonus stock options for successfully completing five years as Apple’s CEO. However, it wasn’t all good news for Cook as he and other Apple execs missed out on hitting their targets — docking him a $1.5 million bonus.
Cook is now reportedly left with 979,809 shares of AAPL stock, with a market value of around $117.6 million. He also restricted stock worth more than 4x that once it’s fully vested.
Despite this considerable war chest of loot, Cook has never seemed particularly money focused. For years, he lived (and may still live) in a relatively modest 2,400 square foot in Palo Alto, California — far from the kind of opulent mansion one might expect from one of the world’s most well-known and most highly-reward CEOs.
In interviews, he has also spoken about giving his wealth away to charity after providing for his currently 10-year-old nephew’s college, and has talked about how driving Apple profits ahead of everything else is not something he wants to do.
Still, must be nice to get that $3.6 million paycheck, though!
Via: Apple Insider
Luke Dormehl is a U.K.-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution and The Formula: How Algorithms Solve All Our Problems … and Create More, both published by Penguin/Random House. His tech writing has also appeared in Wired, Fast Company, Techmeme and other publications.
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