Apple CEO Tim Cook recently exchanged his Apple shares for approximately $33.2 million in a US Securities and Exchange Commision filing.
Cook sold around 196,410 of his company’s share and netted $33.2 million based on average sale price. The amount goes down to $16.4 million after taxes. All the shares sold this week came from a stock award based on performance. Similar to senior roles in Apple, a predetermined trading plan has been set in line with insider trading laws. After the sale, the Apple CEO still has 3.3 million Apple stock shares according to the filing.
It’s believed that Tim Cook intends to sell all of his Apple shares in a staggered manner, with Fortune reporting that the Apple CEO plans to ‘give away all his wealth.’ Cook served as the successor to Steve Jobs when he stepped down in 2011.
