What you need to know
- Apple CEO Tim Cook just sold 265,000 shares of Apple stock.
- The shares were worth around $131.7 million.
- Another 294,840 shares were withheld by the company for tax purposes.
Tim Cook just netted over a hundred million dollars in stock sales.
Reported by MacRumors, Apple's CEO sold stock that, according to the company's stock price at the time, earned Cook around $131.7 million. The CEO was just awarded 560,000 shares of Apple stock as a bonus for the company's performance.
After receiving the award, Cook sold more than 265,000 of those shares at prices ranging from $493.50 to $500.11, netting him somewhere around $131.7 million, according to a filing published today by the SEC. The remaining 294,840 shares worth over $148 million were withheld by Apple for taxes.
According to the report, the CEO has another 700,000 shares of Apple stock that will vest next year. Cook still currently holds over 800,000 shares of stock worth around $418 million.
Cook is set to have another 700,000 of his RSUs vest on August 24, 2021, based on his original employment agreement with Apple ... After selling the RSUs provided this year, Cook continues to hold 837,374 shares of Apple stock worth $418 million.
Tim Cook is now worth over $1 billion as Apple itself became the first U.S. company to hit a $2 trillion market cap.
