Tim Cook sells $35.8 million in Apple Stock after 1.26 million RSUs vest

Tim Cook sells $35.8 million in Apple Stock after 1.26 million RSUs vest
Apple CEO Tim Cook enjoyed a huge pay day this week, when Apple's CEO sold a third of his Apple shares for $35.8 million. The executive entered the sell order after 980,000 Restrictive Stock Units based on his longevity as CEO, and another 280,000 RSUs based on Apple's stock performance, had vested on August 24th. The total amount came to 1.26 million RSUs.

Cook's contract required that for the total performance based 280,000 RSUs to vest, Apple had to finish in the top third of the S&P 500 in stock performance for the period from Aug. 25, 2013 to Aug. 24, 2016. Had Apple finished in the middle third, Cook's award would have dropped to 140,000 RSUs. And had the stock finished in the bottom third, the performance award would have disappeared completely. With a total shareholder return of 67.55% over the three years, Apple's shares finished in the top 78th percentile of the S&P 500, allowing Cook to be credited with the 280,000 performance RSUs.

This past Wednesday, when the award vested, was the fifth anniversary of Cook's second and last promotion to Apple CEO. Back in 2009, Cook was temporarily given the CEO title as Steve Jobs took a leave of absence related to his cancer treatment.

The SEC has certain rules for CEOs selling off restricted shares, which Cook had to follow. We do know that the 990,117 shares were sold at prices ranging from $106.69 to $107.92. The executive still owns 1,309,692 Apple shares in his trust, which has a value of $140 million based on Friday's closing stock price of $106.94. Five more performance based RSU awards are due annually over the next five years ended 2021. Also that year, Cook will be owed a huge award of 700,000 RSUs.
 
source: AppleInsider

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46 Comments

1. dubaiboy78

Posts: 457; Member since: Sep 19, 2014

wtf cooky

9. techlover2017

Posts: 65; Member since: Aug 22, 2016

Maybe he can buy Google share with same money. Intelligent persons are always future ready.

10. techlover2017

Posts: 65; Member since: Aug 22, 2016

A clear sign, that its the best time to sell Apple. After that they will sold by vendors.HaHaHa.

24. Dr.Phil

Posts: 2475; Member since: Feb 14, 2011

It's common practice. If you all are freaking out over $35.8 million in a stock sell-off, then you would find Eric Schmidt of Alphabet (formerly Google) sell off of $2.5 BILLION in GOOG stock 3 years ago alarming as well. http://money.cnn.com/2013/02/08/investing/google-schmidt-stock/ It's just something CEOs do in order to diversify their holdings and be able to invest in things they want to invest in.

26. kiko007

Posts: 7520; Member since: Feb 17, 2016

Trolls have no sense of financial intuition. Just let them live in their delusional world where 36 million in stocks hurts a company with the largest market cap on the planet. The messed up thing is, idiots who know even less upvote crap like that. Do any of you even TRY researching what your talking about? Solid nope.....Apple haters in a nutshell.

28. techlover2017

Posts: 65; Member since: Aug 22, 2016

The word idiot also contains that legendary alphabet "i" .

32. kiko007

Posts: 7520; Member since: Feb 17, 2016

#tryingwaytoohard

33. andynaija

Posts: 1264; Member since: Sep 08, 2012

So are you talking about yourself?

45. noospic

Posts: 12; Member since: Aug 28, 2016

Yup...you have a lot of armchair experts in here.

46. cheetah2k

Posts: 2288; Member since: Jan 16, 2011

Tim Cock anticipating a share drop after the iphone 7 release. Interesting.

2. Jimrod

Posts: 1605; Member since: Sep 22, 2014

Hopefully it mean's hes f**king off to retire in the Bahamas... Sadly it's just pretty standard procedure.

15. trojan_horse

Posts: 5868; Member since: May 06, 2016

What's your beef with Tim Cook? I thought you were an Apple fan.

18. Finalflash

Posts: 4063; Member since: Jul 23, 2013

Yea, how dare he criticize Apple and be an Apple fan at the same time. That is not expected iFan-atic behavior at all.

20. bucky

Posts: 3794; Member since: Sep 30, 2009

Man, your post literally have less value than techie now.

39. yyzamin

Posts: 383; Member since: Aug 26, 2015

Leave Techie alone... Him and Electrifier are the 2 reasons I come to the comments on PA

42. miketer

Posts: 535; Member since: Apr 02, 2015

That man Techie, he's genuine. Leave him alone. He does talk sense.

30. Jimrod

Posts: 1605; Member since: Sep 22, 2014

Apple used to be ran by a product guy who cared about the product above all else, now it's being run by a bean counter. The product is still good but not progressing as much as it could.

3. guests

Posts: 196; Member since: Jun 19, 2016

Tim crook is enjoying his money, while the i-defenders get nothing for protecting their master. Sad day for the sheep.

4. AmashAziz

Posts: 2934; Member since: Jun 30, 2014

Neither are apple likers their idefenders, nor is tim cook our master. Stop being an idiotic troll. Bash the insensibles only!

5. ibend

Posts: 6747; Member since: Sep 30, 2014

and they continue to pay for overpriced phone.. and get happy when apple reporting billions of profit from ripping off their wallets.. weird :-/

8. Jimrod

Posts: 1605; Member since: Sep 22, 2014

And your name is related to Apple yet you hate them, weird. Borderline bunny boiler really.

16. trojan_horse

Posts: 5868; Member since: May 06, 2016

How is his username fan-related to Apple? It's ibend, not iBend. Besides, even if it's iBend, it's related to #bendgate, which means his username isn't Apple-fanatic, but rather sarcasm.

25. Unordinary unregistered

Over priced is a $900 phone (with "true" multitasking") that cant even keep apps in memory let alone launch them without lagging despite the 76 gigs of RAM and a powerful processor.

34. andynaija

Posts: 1264; Member since: Sep 08, 2012

Which phone has 76GB of RAM please give us more information about this device.

37. Mxyzptlk unregistered

*whoosh* Sound of sarcasm going over your head.

44. andynaija

Posts: 1264; Member since: Sep 08, 2012

Did I ask you anything foolish goat?

41. steodoreben

Posts: 379; Member since: Sep 26, 2013

Avid Apple fans continue to pay for overpriced "cheap" phone. Samsung Galaxy S7 and Note7 deserved a 'premium' tagline than Apple for its tech advancements and bonuses in a single device, regardless of TouchWiz.

13. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Awesome.

14. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Don't hate because you've failed in life.

6. scarface21173

Posts: 701; Member since: Aug 17, 2014

Money for old rope

* Some comments have been hidden, because they don't meet the discussions rules.

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