Tim Cook sells another $3.6M batch of Apple stock

Continuing a planned stock selloff that began earlier in January, Apple CEO Tim Cook this week sold a chunk of 30,000 AAPL shares worth $3.64 million, bringing his full-week total to nearly $11 million.

The transactions were completed in transactions ranging from $120.28 to $122.24 and was done in 3 days. Following this week’s selloffs, Tim Cook is left with about 949,809 shares of the company which are worth $116 million.

The payday comes after Apple’s executive team, including Cook, was docked bonus pay as a result of middling company financials due in large part to a slowdown in iPhone sales. For 2016, Apple brought in $215.6 billion in net sales and generated operating income of $60 billion, but the metrics were short of goals set by the company’s compensation committee.

As with two other recent transactions, the trades reported today were made pursuant to Cook’s trading plan adopted in 2015. A pair of regulatory filings, one published ¬†and another reveal Cook shed 60,000 shares of company stock in six separate transactions as part of the same trading plan.

Though he missed out on the $1.5 million performance bonus, Cook still has his $116 million hoard of vested AAPL shares and is set to receive another 700,000 vested RSUs on Aug. 24, 2021. Including the trades reported today, Cook in the last week sold 90,000 shares worth nearly $11 million.
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Saad Muzaffar is a gaming fanatic who loves reading about everything new when it comes to technology. He is an experienced writer and mainly focuses on hardware.