SEC filings reveal that Apple CEO Tim Cook has sold a little over 600,000 of his AAPL shares over the past couple of weeks, netting him approximately $65M. He continues to hold more than a million shares worth some $110M.
The sell-off represents a substantial chunk of the stock bonuses he received last week as he reached his fifth anniversary as CEO …
Apple stock forms the majority of Cook’s income, his salary being a comparatively modest $2M last year. Cook voluntarily opted for his stock awards to be tied more closely to the performance of the company, with its position in the S&P 500 a key metric, though almost a million of those shares were for remaining CEO for five years.
It’s not known why Cook has sold such a large number of shares. He announced last year that he would be giving away almost all of his wealth in the course of his lifetime.
Cook has been giving a number of interviews of late, including ones in the Washington Post and FastCo. His latest was an RTE radio interview in Ireland in which he described tax claims made by the European Commission as ‘political crap.’