Apple CEO Tim Cook dinner has offered a good portion of his Apple inventory holdings, in line with a current submitting with the U.S. Securities and Change Fee (SEC). The sale, totalling over $50 million, comes as Apple’s inventory value just lately hit a brand new all-time excessive.
Cook dinner reportedly offered 223,986 shares of Apple inventory at a median value of roughly $227 per share.This transaction brings his complete compensation for 2024 to over $70 million, together with his base wage and performance-based bonuses.
Apple executives, together with Cook dinner, are awarded firm inventory as a part of their compensation package deal. These inventory grants usually vest over a time frame, with a portion turning into out there on the market every year. This current sale by Cook dinner represents a portion of his vested inventory choices.
What’s the rule beneath which Apple CEO Tim Cook dinner offered his shares
The pre-arranged buying and selling plan carried out on August 31, 2023 goals to defend firm CEOs from insider buying and selling allegations. One of these plan permits firm insiders to dump shares at predetermined occasions and costs. The pre-arranged buying and selling plan is called a Rule 10b5-1 plan. In easy phrases, Apple CEO share sale is a routine monetary follow put up rollout of this plan.
In 2023, Cook dinner earned a base wage of $3 million, however his complete compensation package deal was considerably increased, reaching $66.2 million resulting from inventory awards, efficiency bonuses, and different advantages. Regardless of the sale, Cook dinner stays a big shareholder in Apple, nonetheless holding hundreds of thousands of shares. Analysts consider the sale is unlikely to have a significant affect on Apple’s inventory value, which stays close to its all-time excessive.
