Tim Cook Sells Nearly 200,000 Apple Shares

Apple's CEO Tim Cook this week sold 196,410 shares of the company's stock, which had a total value of approximately $33.2 million based on the average sale price of the transactions, according to a U.S. Securities and Exchange Commission filing. After taxes, Cook netted nearly $16.4 million from the sales.

Cook received all of the shares that he sold this week as a performance-based stock award. Like other senior executives at Apple, he has a predetermined trading plan to sell company stock in accordance with insider trading laws.

Cook still owns nearly 3.3 million shares of Apple's stock following the sales, according to the filing. He has served as Apple's CEO since 2011.

In 2015, Fortune reported that Cook planned to 'give away all his wealth.'

Thanks, Michael Burkhardt!Tags: Tim Cook, AAPLThis article, "Tim Cook Sells Nearly 200,000 Apple Shares" first appeared on MacRumors.comDiscuss this article in our forums