● Covered by 1 source · 1 reportLow impact1 neutral
Tim Cook Sells Nearly $63.9 Million in Apple Shares After RSU Vesting
Key points
- Tim Cook sold 191,753 Apple shares on October 2.
- Sale occurred after 374,541 restricted stock units vested.
- Shares were sold for approximately $63.9 million.
- Cook still holds over 3.2 million Apple shares.
Share Sale Details
On October 2, Apple's executive chair Tim Cook sold 191,753 Apple shares. This sale followed the vesting of 374,541 restricted stock units (RSUs) on October 1. The shares were sold in multiple transactions at prices ranging from $330.66 to $334.50 per share.
Compensation and Withholding
The vested RSUs are a form of stock-based compensation, with the number of shares determined by Apple’s total shareholder return compared to other S&P 500 companies over three years. Apple withheld 199,038 shares, valued at $65,746,232, to cover tax withholding requirements related to the RSU vesting.
Pre-arranged Trading Plan
The sale was executed under a Rule 10b5-1 trading plan adopted by Cook in May, indicating the transaction was arranged in advance. This plan allows company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading.
Remaining Holdings and Gifts
In addition to the sale and tax withholding, Cook also transferred 26,325 Apple shares as a gift on October 2, though the recipient was not identified in the filing. Despite these transactions, Cook continues to hold more than 3.2 million Apple shares through his trust.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Apple CEO Tim Cook sold 191,753 Apple shares on October 2, following the vesting of over 374,000 restricted stock units. This transaction, part of a pre-arranged trading plan, resulted in proceeds of approximately $63.9 million before tax withholding, and Cook still retains over 3.2 million shares.