An SEC filing shows that Apple CEO Tim Cook sold 223,986 shares of Apple stock worth a bit more than $50 million ($50,276,076). As reported by MacRumors, Cook was originally granted the stock as part of performance-based award based on Apple’s shareholder returns compared to other S&P 500 companies.
Earlier this week, the company granted an additional 219,502 shares of Apple stock. While 54,876 shares are set to vest in 33% increments in April of 2027, 2028, and 2029, 164,626 shares are performance-based and will vest on October 1, 2027. Between 0% and 200% of the target number of shares can vest, depending on Apple’s fiscal performance between fiscal 2025 and fiscal 2027.
As of the start of 2024, Cook held three million shares of Apple stock in addition to 1.3 million unvested RSUs. His unsold stock is worth more than $500 million. Stock grants make up the majority of Cook’s total compensation as Apple’s CEO. Cook’s 2023 base salary was $3 million, while also receiving $47 million in stock awards, $10.7 million in performance-based bonus awards, and $2.5 million in other compensation (401k contributions, life insurance premiums expenses, and more.