Apples’ (NASDAQ:APPL) CEO, Tim Cook, Dumped 38% of His Stock

Apples’ (NASDAQ:APPL) CEO, Tim Cook, Dumped 38% of His Stock

Apples’ (NASDAQ:APPL) CEO, Tim Cook, Dumped 38% of His Stock


Apple Inc. (NASDAQ:AAPL) CEO Tim Cook, 55 anni, recently marked his 5 year anniversary at the helm of the world’s most valuable company by market cap, and he received a boat load of shares, that he was quick to cash out for $64.55% from selling a huge amount of the shares he received.

Between 25 and 31 August Mr. Cook sold more than 600,000 shares of his company’s stock at prices ranging between 105.95 and 107.73/share, according to filings with the SEC. All of the sales were done under a Rule 10b5-w trading plan which Cook adopted on 16 May in anticipation of the “reward”. The share sales also came after a fresh 1.26-M restricted stock units vested on 24 August.

After the vesting of the new RSUs, Mr. Cook held almost 2.3-M shares of Apple stock, but following all the sales over the last week, he now has about 1.04-M/shares.

The iPhone maker withheld about 656,000 shares after the RSUs vested for tax purposes, which left Mr. Cook with more than 1.64-M/shares of Apple stock after the required tax withholding.

Put simply, it means he dumped 38% of his stake in the company in about a week.

Mr. Cook still holds are worth about $110.6-M.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:AAPL 112.71 23 September 2016 -1.91 114.42 114.79 111.55 52,460,600
HeffX-LTN Analysis for AAPL: Overall Short Intermediate Long
Bullish (0.43) Bullish (0.33) Bullish (0.46) Very Bullish (0.50)

Have a terrific week

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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