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

$AAPL

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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