In 2011, after the death of Steve Jobs, one of the founders and CEO of Apple, Tim Cook took the seat in the company. Cook, who has been CEO of Apple since 2011, earned a bonus of approximately 63 million dollars from the company due to his performance last year. Cook received approximately $ 47 million in stocks, $ 3 million in salary and $ 11 million in performance bonuses. Recent reports show that CEO Tim Cook sold his shares for the first time after April 2024.
Tim Cook sold $ 50 million worth of stocks
Last April, CEO Tim Cook sold approximately 200 thousand shares of his shares. While Cook sold his shares for $ 63.2 million in April, he managed to get $ 16.4 million from this sale after taxes. The latest reports show that Tim Cook did the same thing for his shares and sold approximately 223,986 shares. The value of the shares is approximately $ 50 million.
Many of the shares Tim Cook currently holds were given as performance-based rewards. If Cook can achieve the desired figure in product sales, the company pays the CEO according to the terms of the situation. As a bonus for 2023, Tim Cook received shares, salary, bonus wages. Earlier this week, Tim Cook was given a total of 219,502 Apple shares. 54,876 of the shares are planned to be updated in one-third ratios in April of 2027, 2028, 2029 and given to Cook. 164,626 shares were given to Tim Cook on 1 October based on performance.
The total bonus to be given to the CEO is said to depend on the total shareholder return compared to companies in the S&P 500 category. In early 2024, Apple CEO Tim Cook held 1.3 million unvested RSUs (restricted stock) and more than 3 million Apple shares. According to estimates, the value of unsold restricted shares held by Tim Cook is close to $ 500 million. Apple CEO Tim Cook’s share sale is expected to have a big return in the near future.
So what do you think about Tim Cook selling his shares? Please do not forget to share your thoughts with us in the comments section below.
{{user}} {{datetime}}
{{text}}