Tim Cook cashes in $11.1 million-worth (37,500 iPads worth!) of Apple stock

Tim Cook

Right now, one (1) share of Apple costs roughly the same as a new iPad, and Apple CEO Tim Cook just traded in 37,500 shares for a grand total of $11.1 million. Yeah.

For the last year, Apple CEO Tim Cook has been holding onto a bunch of restricted Apple stock awarded to him when he first took up day-to-day leadership duties when Steve Jobs left on medical leave. On March 10, the restriction was lifted on a bunch of that stock, which allowed him to sell. 17,322 of those shares were surrendered for taxes, but the other 20,178 were all sold yesterday over the span of five separate sales throughout the day.

Cook recieved another million shares when he signed on as CEO that he'll be able to sell in 2016 and 2021, and no doubt he's holding even more stock beyond that; Cook's definitely in it for the long haul. The street doesn't seem to mind the sale -- in fact, prices have climbed from $556 this morning to $568.

Source: [](The details for the sale of his Apple shares are available over here.)via iPhoneInCanada

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Simon Sage

Editor-at-very-large at Mobile Nations, gamer, giant.

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Reader comments

Tim Cook cashes in $11.1 million-worth (37,500 iPads worth!) of Apple stock

35 Comments

It's totally normal. CEOs routinely cash stock out. Bill Gates has been doing it for years, as well as the CEOs of pretty much every major company everywhere. Nothing to see here.

Not saying Cook is Jobs but how else is someone suppose to make a living when they're paid $1 (i.e. Steve Jobs)? They're just getting some money to buy an Xbox--uhh--I mean iPad.

Doesn't he make a salary of $1 a year? It's not like he liquidated all his holdings right before an earnings call. Give him some leeway to due some prudent financial planning.

While way more then I will ever see it is still not very much compared to many others in the same position.

Haha sound like their plan to resell the same product with minor tweaks every year isn't working anymore..oh wait with you iSheeps falling for this scheme every year, im sure it'll keep working for them for a couple more years.

So $568 a share and the most valuable company in the world isn't working huh? He's cashing in on a bonus not jumping ship you dums.

I'm actually a Droid user, but I can still see what Apple is doing and how much they have accomplished, especially with the iPad. Incremental updates are just good business sense.

KidCanada trolling again with another douchebag comment.
Go away, eat some of that crap food they serve at Tim Hortons and drown your sorrows in a Molson.
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I guess Simon wrote this yesterday since the stock is now up another 20+USD today. Don't fret CEO's must sell a bit here and there. Usually you will see fairly regular sales by the senior executives in the filings.

I'd be more concerned with why its OK for the government to keep 5.1 million.. That's an almost 50% tax if I'm reading this correctly.
If you're looking for a sign to worry over, there ya go..

50% tax on a capital gain is normal. Restricted shares are offered typically at lower than market price so right away its free money. Anytime theres money to be made, the gov’t wants its share.

Actually it's 40% and that's only when your marginal income tax rate is 40%. In Tim's case that's because he takes home a whopping $1.4m in basic salary plus bonus of about the same. He's not hurting.
Where a person's sole income is from capital gains they pay the lowest rate of 15% like Romney and Buffet.

Which is why Tim should be smart and switch his salary to $1 like Steve. Saves a lot of cash on those Cap Gains.

@ Jason D
50% tax on a capital gain is normal. Restricted shares are offered typically at lower than market price so right away its free money. Anytime theres money to be made, the gov't wants its share.

Someone has to pay for GM and the big banks to be bailed out so it might as well be you and me right??

When samsung releases a product with incremental upgrades its ok but when apple releases a revised ipad with better screen, more ram, more gpu, its a bad thing!