Apple CEO Tim Cook is in the news again for a stock sale. As a director, Cook also has shares in the company. Approximately, today he still holds the not inconsiderable figure of 3.3 million shares. So in this post we are going to explain how many he sold, and how much he managed to get from this operation.
Apple’s stock price is not something that is static over time. In fact, it is something that has increased in value over the years. Although there are times when the price may fluctuate, the growth trend has been positive. And here there are several facts to highlight, one of them being the time in which Tim Cook has decided to sell part of the shares he owns.
How many shares did Tim Cook just sell?
As we mentioned at the beginning, the CEO of Apple still maintains 3.3 million shares in his portfolio. But this figure is what results after having sold 511,000 shares. Just over half a million shares (which is said to be soon), have allowed it to obtain a net profit of 41.5 million dollars.
But why “net profit”? Has he earned more money? As explained in the Reuters news agency, “the shares were worth $87.8 million before taxes.” That is to say, the CEO of Apple has had to go through the public coffers to pay the corresponding taxes for the transaction.
It is not the first time that Tim Cook sells shares
Apple executives and directors, in addition to holding these positions, also have shares in the company. Now, in the same way that they own these assets, it is also common for them to sell one or another from time to time.
The case of Tim Cook is not something strange, on this occasion. Yes, it was “notable”, as reported by Appleinsider, that the CEO did not carry out any share sales in 2022.
To this data from 2022, we must add that the previous time Tim Cook had shares in his possession was in 2021, when “he received five million Apple shares, as part of the deal that was carried out when he began to perform.” the role of CEO. When this happened, he decided to sell them all and pocket approximately $355 million.
However, despite the money that has been received, from the same medium they also announce that Tim Cook “has decided to sell at a time when Apple’s shares are below their usual value.” Thus, 41.5 million is not bad at all, but it can be considered a humble figure, if we compare it with what he reaped two years ago.
The current value of the 3.3 million shares that Tim Cook currently owns is $585 million, taking into account the current price of what each share costs on the market, individually.