Apple CEO Tim Cook this week offloaded nearly 200,000 shares of AAPL stock, valued at around $32 million. After taxes, the sale netted Cook just over $16.4 million.
The associated filings with the United States Securities and Exchange Commission can be found below. As the filings say, Cook’s transaction was made pursuant to a Rule 10b5-1 trading plan that he adopted in November 2022. These trading plans, per the SEC, “provide an affirmative defense to insider trading liability.”
The trades this week were executed at prices ranging from $168.255 to $169.195. The shares were all received through Cook’s performance-based compensation plan at Apple. Specifically, these shares were granted on in September 2020 and September 2021.
Cook still owns 3,280,180, according to the filing this week.
In the past, Cook has said that he will be giving away the majority of his fortune through a systematic approach to philanthropy. Cook is believed to be well into the “billionaire club” at this point in his career.
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