Apple CEO Tim Cook Sells $131.7 Million in Apple Stock

Apple CEO Tim Cook was recently awarded 560,000 shares of Apple stock for serving as Apple's CEO and for Apple's strong performance under his leadership.

timcooktulane
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.

As with all transactions where Apple executives sell stock, the sale was done under a Rule 10b5-1 trading plan that was adopted by Cook's trust on February 28, 2020.

Cook's stock award included 280,000 time-based RSUs and 280,000 performance-based RSUs that were based on Apple's total shareholder return relative to other companies in the S&P 500 over the three-year period from August 25, 2017 through August 24, 2020. Apple achieved a higher shareholder return than at least two-thirds of the other companies in the S&P during that time period.

Mr. Cook's award provides that if Apple's relative TSR performance is within the top third of the companies that remain in the S&P 500 for the entire performance period, the 280,000 performance-based RSUs vest in full. If Apple's performance is in the middle third, the RSUs will be reduced by 50%, and if Apple's performance is in the bottom third, the RSUs will be reduced to zero. Apple needed to achieve a TSR of at least 48.28% to outperform the middle third of the companies in the S&P 500 for the performance period, and at least -3.89% to outperform the bottom third of the companies. Apple's TSR for the three-year period was 194.89%, which ranked 7th of the 442 companies that were included in the S&P 500 for the entire period and placed Apple in the 99th percentile. Therefore, all 280,000 of the RSUs subject to performance requirements vested.

Cook is set to have another 700,000 of his RSUs vest on August 24, 2021, based on his original employment agreement with Apple. Cook's net worth surpassed $1 billion this year, according to estimates calculated by Bloomberg's Billionaires Index.

Apple's stock has soared past the $500 mark this week, and the company's market value has hit $2 trillion. After selling the RSUs provided this year, Cook continues to hold 837,374 shares of Apple stock worth $418 million.

Top Rated Comments

Doctor Q Avatar
14 months ago
Now he can finally afford to watch Mulan (https://www.macrumors.com/2020/08/21/mulan-disney-plus-apple-in-app-purchase/) on Disney+.
Score: 41 Votes (Like | Disagree)
SSD-GUY Avatar
14 months ago
Inb4 someone says it takes 'courage' to sell Apple stock.
Score: 12 Votes (Like | Disagree)
SSDGUY Avatar
14 months ago

What a jerk. Don’t believe me? Take a look at these price hikes:

https://www.businessinsider.com/apple-price-hikes-2018-2018-12
Yeah, but they got screaming deals on monitor stands and MacPro wheels.
Score: 12 Votes (Like | Disagree)
kerr Avatar
14 months ago
And this very sad story is precisely why the App Store commission must remain at 30%
Score: 12 Votes (Like | Disagree)
AvisDeene Avatar
14 months ago

there comes a point where more dollars stuffed into the piggybank become meaningless. TC passed that threshold many many years ago. He could be awarded 500 billon bucks and it wouldn't change his life one spec
If that's the case, do you think he'd be willing to donate 2-3 million to me? It's not like he'd notice it since it's meaningless to him. ?
Score: 11 Votes (Like | Disagree)
8CoreWhore Avatar
14 months ago
But most employees are still part time wiith low wages.
Score: 11 Votes (Like | Disagree)

Top Stories

mac scanner permission error

Apple Says Fix Planned for 'You Do Not Have Permission to Open the Application' Error When Using a Scanner on Mac [Updated]

Saturday August 14, 2021 6:15 am PDT by
Update 23/9: Apple has updated its support document indicating that this issue can be resolved by installing the latest macOS Big Sur 11.6 update. In a newly published support document on its website, Apple has acknowledged an error that some users may receive when they try to use a scanner with a Mac in the Image Capture app, Preview app, or the Printers & Scanners section of System...
original iphone

Phil Schiller Says iPhone Was 'Earth-Shattering' Ten Years Ago and Remains 'Unmatched' Today

Monday January 9, 2017 7:15 am PST by
To commemorate the tenth anniversary of the iPhone, Apple marketing chief Phil Schiller sat down with tech journalist Steven Levy for a wide-ranging interview about the smartphone's past, present, and future. The report first reflects upon the iPhone's lack of support for third-party apps in its first year. The argument inside Apple was split between whether the iPhone should be a closed...
Apple Prefer Lightning Over USB C Feature

iPhone Sticking With Lightning Port Over USB-C for 'Foreseeable Future'

Tuesday March 2, 2021 9:32 am PST by
Apple will retain the Lightning connector on the iPhone for the "foreseeable future," with no intention of switching to USB-C, according to reliable analyst Ming-Chi Kuo. In spite of much of the industry moving toward USB-C, Apple will not be using it to replace the Lightning connector on the iPhone 13, or indeed on any iPhone model for the time being. In a note seen by MacRumors yesterday,...
apple california streaming event

Apple Event Announced: 'California Streaming' on September 14 With iPhone 13, Apple Watch Series 7 Expected

Tuesday September 7, 2021 9:03 am PDT by
Apple today announced that it will be holding a special event on Tuesday, September 14 at 10:00 a.m. The event will take place at the Steve Jobs Theater on the Apple Park campus in Cupertino, California. As with WWDC and last year's fall events, this new event will be held digitally with no members of the media invited to attend in person. Apple will likely provide pre-taped segments for...
iOS 15 icon on phone

Apple Seeds Sixth Betas of iOS and iPadOS 15 to Developers

Tuesday August 17, 2021 10:05 am PDT by
Apple today seeded the sixth betas of iOS and iPadOS 15 to developers for testing purposes, with the updates coming one week after Apple released the fifth betas. Registered developers can download the profile for the iOS and iPadOS betas from the Apple Developer Center, and once the profile is installed, beta updates will be available over the air. iOS 15 is a major update that...
youtube apple tv

YouTube Discontinuing 3rd-Generation Apple TV App, AirPlay Still Available

Wednesday February 3, 2021 3:09 pm PST by
YouTube is planning to stop supporting its YouTube app on the third-generation Apple TV models, where YouTube has long been available as a channel option. A 9to5Mac reader received a message about the upcoming app discontinuation, which is set to take place in March.Starting early March, the YouTube app will no longer be available on Apple TV (3rd generation). You can still watch YouTube on...
omg lightning cable comparison

Security Researcher Develops Lightning Cable With Hidden Chip to Steal Passwords

Thursday September 2, 2021 6:59 am PDT by
A normal-looking Lightning cable that can used to steal data like passwords and send it to a hacker has been developed, Vice reports. The "OMG Cable" compared to Apple's Lightning to USB cable. The "OMG Cable" works exactly like a normal Lightning to USB cable and can log keystrokes from connected Mac keyboards, iPads, and iPhones, and then send this data to a bad actor who could be over a...
maroon5memories

Apple Collaborates With Maroon 5 to Add 'Memories' Song to Photos App

Wednesday September 25, 2019 12:02 pm PDT by
Apple has teamed up with Maroon 5 to add the group's new song "Memories" to the Memories feature in the Photos app, allowing it to be used for photo slide show creations, reports Billboard. "Memories" will be available as a soundtrack option for a limited time and it is available to iPhone and iPad users running the latest iOS 13 and iPadOS software. Memories in the Photos app are created ...
it home ecommerce app iphone 13

iPhone 13 to Launch on September 17, AirPods 3 on September 30, Claims Report

Wednesday August 25, 2021 2:42 am PDT by
Apple may be planning to launch the iPhone 13 on Friday, September 17 and third-generation AirPods on Thursday, September 30, according to an image of an e-commerce app discovered by Chinese language site IT Home. The screenshot, originally posted by Weibo account @PandaIsBald, suggests all four iPhone 13 models will go on sale on September 17, followed by the AirPods 3 on September 30....
Top Stories 75 Thumbnail

Top Stories: Last-Minute iPhone 13 Rumors, Apple Announces App Store Changes, and More

Saturday September 4, 2021 6:00 am PDT by
The finish line is in sight! Apple's annual iPhone event is likely just a week or so away and all eyes will be on the company as it unveils the next version of its most popular product line. With any luck, we'll also see the next-generation Apple Watch and perhaps even some new AirPods. Other news this week saw Apple making some more changes to its App Store policies in response to a...