Tim Cook sells nearly $64 million in Apple shares
Apple's executive chair and former CEO Tim Cook sold nearly 200,000 shares of the company on October 2, just one day after 374,541 restricted stock units (RSUs) vested as part of his compensation package. The shares were sold across multiple transactions at prices ranging from $330.66 to $334.50 per share.
The RSUs vested on October 1, and their value was determined by Apple's total shareholder return relative to other S&P 500 companies over a three-year period. According to the filing, Apple withheld 199,038 shares, valued at $65,746,232, to cover tax withholding requirements related to the RSU vesting.
The sale was conducted under a Rule 10b5-1 trading plan that Cook adopted in May, meaning the transaction was arranged in advance. Additionally, Cook transferred 26,325 Apple shares as a gift on October 2, though the recipient was not identified in the filing.
Despite the sale and the tax withholding, Cook still holds more than 3.2 million Apple shares through his trust.