Apple (AAPL, Financial) CEO Tim Cook recently sold more than 220,000 shares of the company's stock, earning over $50 million. According to a filing with the U.S. Securities and Exchange Commission, Cook sold 223,986 shares. Earlier this week, he received an additional 219,502 Apple shares. Of these, 54,876 shares are planned to be granted incrementally in April 2027, 2028, and 2029. The remaining 164,626 shares are performance-based and will be granted on October 1, 2027. The vesting of these shares depends on Apple's performance from the fiscal year 2025 to 2027, with potential vesting ranging from 0% to 200% of the target amount.
As of early 2024, Cook holds over 3 million shares of Apple, with unsold shares valued at over $500 million. Stock grants constitute a significant part of his compensation package. This move is not unusual for the Apple CEO, who often sells shares in October. In 2023, Cook earned approximately $41.5 million from such sales, and he made about $16 million from sales in April 2024.
Other Apple executives have also sold shares recently. COO Jeff Williams sold 59,370 shares worth $13.5 million; Senior Vice President of Retail Deirdre O’Brien sold 61,019 shares for $13.8 million; and Katherine Adams, Apple's General Counsel and Senior Vice President of Legal and Global Security, sold 61,019 shares, also for $13.8 million.
Cook's stock sale comes as Apple is undergoing significant transitions and developments. The company's CFO, Luca Maestri, is set to step down in January 2025, with Kevan Parekh taking over, prompting both anticipation and caution among investors. Additionally, Apple is preparing for a historic upgrade cycle with the launch of the AI-enabled iPhone 16, which analysts predict could push the company's valuation beyond $4 trillion.
Despite challenges, including a 6.5% decline in sales in Greater China, Cook remains optimistic about long-term growth in the region. Apple's recent third-quarter results exceeded expectations, though concerns about the Chinese market and service business performance affected the stock price.
