Tim Cook, CEO of Apple, receives $41 million from the largest share sale since 2021
As the shares of the iPhone manufacturer fall from recent highs, Apple Inc. Chief Executive Officer Tim Cook sold stock for approximately $41 million after taxes in his largest transaction in almost two years.
According to a report made on Tuesday with the US Securities and Exchange Commission, Cook sold about 241,000 shares, with an additional 270,000 shares being held back for tax considerations. According to information gathered by Bloomberg, he still owns around 3.28 million shares in the Cupertino, California-based business where he has spent more than two decades working.
Cook just underwent an unprecedented 40% pay reduction to $49 million for 2023, which led to the share sell. His stock awards based on Apple’s success will rise from 50% to 75% this year as part of revisions to his remuneration.
Cook just underwent an unprecedented 40% pay reduction to $49 million for 2023, which led to the share sell. His stock awards based on Apple’s success will rise from 50% to 75% this year as part of revisions to his remuneration.
