By Joe Rossignol
Apple CEO Tim Cook sold 196,410 shares of the company's stock this week for a total value of approximately $33.2 million, based on the average selling price of transactions, according to U.S. Securities and Exchange Commission filings. After taxes, Cook received almost $16.4 million from sales.
Cook received all profit from the shares he sold this week as a performance bonus. Like other Apple executives, he has a predetermined trading plan to sell the company's stock to comply with insider trading laws.
After the sale, Cook still owns nearly 3.3 million Apple shares. He has served as Apple's CEO since 2011.
In 2015, Fortune magazine reported that Cook planned to “give away all his wealth.”
Thank you, Michael Burkhardt!
Tags : AAPL, Tim Cook[150 comments]
