According to an Apple filing with the U.S. Securities and Exchange Commission today, Tim Cook sold 20,178 shares of his company’s stock in a series of transactions over the past two business days. The sales started at $547 per share and climbed to $551 before the last transaction, which left Apple’s Chief Executive Officer with $11.1 million.
Cook, who earns a bit more than $1 a year in Apple salary, was awarded 1 million shares of Apple last year, which vest in 2016 and 2021. Those shares are now worth over half a billion dollars.
Apple is the world’s most valuable company with stock valued at $552 upon today’s closing bell and continued to climb in after-hours trading.
Setteb.itnoted that Apple would do a live broadcast of CEO Tim Cook’s remarks tomorrow at the Goldman Sachs Technology and Internet Conference. Cook usually talks numbers and trends at these events but they are not usually broadcasted live.
During the question-and-answer section of Apple’s blowout Q1 2012 earnings call, Apple CEO Tim Cook let out a widely known fact from within the company: Apple Senior Vice President of Hardware Engineering Bob Mansfield is now in charge of the team that comes from Anobit, an Israel-based SSD company that Apple acquired earlier this month. Cook also said Apple is integrating Anobit’s talent into Apple’s current workflow. Cook did, however, leave out some crucial details about Anobit’s integration into Apple.
Following today’s blowout numbers, we just received word that Apple CEO Tim Cook sent a short email to Apple employees congratulating them both on a record setting holiday quarter and starting 2012 with the launch of a groundbreaking initiative for education with iBooks 2 and iPad textbooks.
Perhaps most enticing, Cook told everyone to report to Town Hall tomorrow either in person or through their AppleWeb online portal at 10 a.m. PT to discuss “some exciting new things going on at Apple.” Former Apple CEO Steve Jobs typically held such meetings following major product launches like the iPad and iPhone.
Cook’s last all hands email was sent just one week ago and discussed Apple’s supplier responsibility report.
It wasn’t much of a surprise when Tim Cook said “Apple is not going to change” in his letter to employees as newly appointed CEO following Steve Jobs’ resignation. Not long after that, we published a story about what we called Cook’s first “anti-Jobsian move”. Of course many questions arose surrounding how Cook’s sales and operations background may influence his leadership style, and how it might differ from Jobs.
Today we get a look at just how the company has changed under Cook’s guidance with the Wall Street Journal publishing a story detailing the moves the new CEO has made since taking over in August:
In recent weeks, Mr. Cook has tended to administrative matters that never interested Mr. Jobs, such as promotions and corporate reporting structures, according to people familiar with the matter. The new chief executive, 50 years old, has also been more communicative with employees than his predecessor, sending a variety of company-wide emails while addressing Apple employees as “Team,” people close to the company said.
According to the report, Cook was also behind a recent restructuring of the company’s education division, a move which split the business (which until now operated “fairly independently”) into a sales and marketing structure and incorporated it into the company-wide sales and marketing divisions. The restructuring will place additional responsibilities on Apple execs Phil Schiller and John Brandon.
Citing “former executives” and others close to the company, the WSJ claims Cook will also “be more open with shareholders” and note he’s expressed desire to meet with investors more often than Jobs. After Cook’s statement that he’s “not religious about holding cash or not holding it” during Apple’s earnings call last month, it’s not much of a surprise many expect the new CEO to be more open to stock buybacks or dividends as well.
Live from Apple Q4 2011 earnings call, Tim Cook is answering questions from the press and just discussed, among other things, his thoughts on Siri, patents disputes, and the disaster in Thailand.
Of course Cook was asked to comment about Siri and did so using the words “amazing” and “incredible” calling it a “profound innovation” and saying, “over time…many, many people will use it in a substantial way”.
Talking on patent disputes, Cook of course wouldn’t discuss specific cases but did note:
“We spend a lot of time and money and resource on coming up with incredible innovation…we dont like it when someone else takes those”, he continued, “unfortunately we’ve been pushed into the court system as a remedy.”
When asked to talk about the potential unibody enclosure shortage we reported yesterday, he mentioned it’s being treated as a concern and that Apple is “currently investigating”. He also talked about the recent disaster in Thailand and its potential impact (quote viaThis is my next):
