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.
|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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