Tim Cook sells $64 million in Apple shares under prearranged plan

Apple executive chair Tim Cook recently sold nearly $64 million worth of Apple shares, according to a filing with the U.S. Securities and Exchange Commission. On October 2, Cook sold 191,753 shares at prices ranging from $331.44 to $333.94 per share, totaling approximately $63.85 million. The sale followed the vesting of 374,541 restricted stock units, which were converted into shares the previous day. Apple withheld 199,038 shares, valued at around $65.75 million, to cover tax obligations related to the vesting.

The transaction was executed under a prearranged Rule 10b5-1 trading plan, indicating that the sale was planned in advance rather than a spontaneous decision. Cook still directly owns over 3.2 million Apple shares following the sale.

Cook transitioned from his role as Apple CEO earlier this year, stepping into the executive chair position as John Ternus took over as chief executive. He joined Apple in 1998 and became CEO in August 2011, leading the company through significant expansions, including the launch of the Apple Watch and AirPods, while growing its services business.