Tim Cook sold nearly $63.9 million in Apple shares this month
Apple executive chair Tim Cook sold 191,753 company shares on October 2 after 374,541 restricted stock units vested. The shares were sold for $330.66 to $334.50 each under a Rule 10b5-1 plan arranged in advance.
Apple executive chair and former CEO Tim Cook sold 191,753 Apple shares on October 2. The transaction followed the vesting of 374,541 restricted stock units under his compensation package on October 1.
The shares were sold in multiple transactions at prices ranging from $330.66 to $334.50. The sales were worth nearly $63.9 million.
Shares withheld for tax obligations
Apple withheld 199,038 shares valued at $65,746,232 at $330.32 per share to cover tax obligations linked to the RSU vesting. The number of shares that vested was determined by Apple’s total shareholder return relative to other S&P 500 companies over a three-year period.
Sale arranged under trading plan
Investing.com reported that the transactions were carried out under a Rule 10b5-1 trading plan Cook adopted in May. The arrangement means the sale had been scheduled in advance rather than decided on the day it took place.
Cook also gifted 26,325 Apple shares on October 2. The filing did not identify the recipient. Through his trust, he continues to hold more than 3.2 million Apple shares.
What we know
- Tim Cook sold 191,753 Apple shares on October 2 for nearly $63.9 million.
- A total of 374,541 of Cook’s restricted stock units vested on October 1.
- Apple withheld 199,038 shares to cover related tax obligations.
- The sale was made under a Rule 10b5-1 plan adopted in May.
- Cook still holds more than 3.2 million Apple shares through his trust.
Trust: Single source
- The story relies on one publisher. A second independent confirmation has not been established from the cited sources.
- Sources: 9to5Mac.
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