Tim Cook, Apple CEO, sells $41 million in company stock

Cook still has approximately 3.28m shares in the firm where he’s worked for over twenty years. 

Apple Inc.’s CEO, Tim Cook, has made his largest stock sale in over two years, selling shares worth approximately $41 million after taxes. This move comes as the tech giant’s stock price retreats from recent highs.

Details of the Sale

According to a filing with the US Securities and Exchange Commission on Tuesday, Cook sold a total of 511,000 shares. Despite this significant sale, he still holds approximately 3.28 million shares in Apple, the Cupertino, California-based company where he has served for over two decades.

Pay Cut and Compensation Changes

Interestingly, Cook’s stock sale follows a rare pay cut of about 40% for the year 2023, reducing his compensation to $49 million. 

As part of these changes to his compensation package, his stock awards linked to Apple’s performance have increased to 75% for this year, up from the previous 50%.

Tim Cook’s recent stock sale could be seen as a strategic financial move while still maintaining a substantial stake in the company he has been instrumental in leading.