Apple CEO Tim Cook sells 265,000 Apple shares

Last week, Apple CEO Tim Cook a total of 560,000 awarded , Among other things, these consist of a promised share package and the performance compared to other listed companies. Now it has become known that Cook has sold part of his Apple shares.

Apple CEO Tim Cook sells 265,000 Apple shares

From a Write The US Securities and Exchange Commission reports that Tim Cook sold 265,000 of his AAPL shares at a price between $ 216.98 and $ 218.54 per share. This represents a total value of $ 57.8 million. The remaining 294,840 shares worth more than $ 63 million were withheld by Apple for tax purposes.

As with all Apple executive stock transactions, it was sold under the 10b-1 trading plan, which was accepted on May 4, 2018.

Mr. Cook’s award provides that if Apple’s relative performance in the S & P 500 for the entire performance period, the 280,000 performance-based RSUs vest in full. If Apple’s performance is in the middle third, the RSUs will be reduced by 50%, and if the performance of the RSUs will be reduced to zero. 56.23% To outperform the middle third of the companies in the S & P 500 for the performance period, 19.94% to outperform the bottom third of the companies. Apple’s TSR for the three-year period was 89.94%, which ranked 50th of the 423 companies that were included in the S & P 500 for the entire period and placed Apple in the 88th percentile. Therefore, all 280,000 of the RSUs are subject to performance requirements.

Cook will receive 560.00 shares per year over the next three years as long as he remains CEO of Apple. In addition, Cook receives 700,000 shares on 24.08.2021. Currently, Cook still has 878,425 Apple shares worth about 193 million dollars. (via Macrumors )

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: