So does this mean we can expect Tim Cook to retire sometime after the iPhone XIV event in 2021? He'll be turning 60 that autumn. If I were him I would peace out of there and go travel the world and maybe even space for a bit.
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Apple CEO Tim Cook Sells $57.8M in Apple Stock
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I'm sure he knows plenty of things the rest of us don't.
Most of his compensation comes in the form of shares. Unfortunately, most shops don't accept those as payment, so you need to convert some to cash.
It's a small fraction of his holdings. As the article says, he still has nearly $200M in shares.
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Yes, there were Apple CEOs before him. Time goes in one direction. Nothing much he can do about that.
The board set performance targets and they were met. What more is there to say?
I
My comment is more geared to him EARNING the cash.Did he do anything amazing for that kind of payout, or is he simply coasting on the momentum generated by others? What has tim ACCOMPLISHED that he can put his name on? Useless guy IMHO. He should distribute that payout to employees and charities. He is not the one keeping Apple afloat and moving forward.
My comment is more geared to him EARNING the cash.Did he do anything amazing for that kind of payout, or is he simply coasting on the momentum generated by others? What has tim ACCOMPLISHED that he can put his name on? Useless guy IMHO. He should distribute that payout to employees and charities. He is not the one keeping Apple afloat and moving forward.
he promised to replace the motherboard on my late 2013 iMac but had to raise the money first.
Someone else already said this but in a complicated way. When a company gives you stock, that's income, not capital gains. Capital gains is only on the amount the stock value increases after that. As the article says, his rate is more than 50%.
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Charities yes, employees no. I don't like what he did to Apple, but he did make it much more profitable.
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The comment you responded to related to the income tax on the shares vesting, with more than 50% of the vesting shares having been withheld to cover the required tax withholding on those shares. So the tax at issue was the normal income tax on his compensation (which in this case came in the form of vesting RSUs).
There will also be tax liability on the capital gains made from holding those shares for some period of time. But that will (most likely) be a much smaller piece of his tax liability. Depending on how he chooses to figure cost basis, that may be long term capital gains on a larger gain or short term capital gains on a smaller gain. The default, if you don’t intentionally choose something else, is FIFO. But you don’t have to figure cost basis that way. You can specify that certain shares are sold (e.g., the ones he just received), and pay taxes using their cost basis. So he could have a very small capital gain on the shares he just sold.
Is that why he gave some money a few weeks ago? Must be hard to avoid taxes in this situation.
My salary isnt high, I'm a sole income provider for a family of 5, and work 2 jobs. I'm not rich by any means, but I consider myself to be wealthy - I have food in my belly, food in the fridge for the family, I'm able to buy a couple of coffees a week. It's pretty contrasted with so many on this planet and how they live day to day.
Tim is on another level, but I'm always a little uncomfortable when I hear people attacking him for being successful and wanting what he has. Taking stock of what you have and considering that there are people on this earth that look at you and think you're like Tim Cook is humbling. And that the responsibility to help others in need is on all of us.
Not trying to lecture! Just struck me this morning as I was staring at Tim's numbers.
My salary isnt high, I'm a sole income provider for a family of 5, and work 2 jobs. I'm not rich by any means, but I consider myself to be wealthy - I have food in my belly, food in the fridge for the family, I'm able to buy a couple of coffees a week. It's pretty contrasted with so many on this planet and how they live day to day.
Tim is on another level, but I'm always a little uncomfortable when I hear people attacking him for being successful and wanting what he has. Taking stock of what you have and considering that there are people on this earth that look at you and think you're like Tim Cook is humbling. And that the responsibility to help others in need is on all of us.
Not trying to lecture! Just struck me this morning as I was staring at Tim's numbers.
Oh yeah? State income taxes are no longer deductible as of 2018 ($10K cap). States were trying to issue workarounds but last week the IRS and treasury department put a stop to that. Much of my income will be taxed at nearly 55% this year. The article is not mistaken, nor do you appear to be a tax expert. Sorry.
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Don’t worry, I’ve paid my EU taxes too, by way of the their recent extortion of Apple which is currently being contested. That’s money that would have otherwise been used for capital return to shareholders in the form of either dividends or share buybacks.In EU it’s worse, so stop complaining you American
He may have to announce his sells far in advance, but he also has some control over when he releases bad news. He can choose the timing of financial releases to be anytime within 60 days of the end of the quarter. If he expects the news will increase the value of the stock, he can have it released just before he sells. If he expects the news will drive the value of the stock down, he can have it released just after he sells.
Also, I would say selling ASAP indicates that you generally expect the stock value to decrease. If he expected Apple's growth rate to continue to be in the top third of S&P 500 companies, then divesting would be silly for him - he should just hold the stock for now. He's worth hundreds of millions of dollars - there's no reason that he needs to act cautiously with the money.
Apple being Apple though, the SEC and media would be all over it if he ever did anything suspicious with sell-offs though. This company is scrutinized more than Mcdonalds and Exxon put together.
All hail the great Dongle King!"Keep buying dongles everyone!"
Oh well. In 10 years, we'll all have piles of actual USB Type-C devices anyway, and this troublesome transition will be a thing of the past.
...unless everything is wireless by then.
Don’t worry, I’ve paid my EU taxes too, by way of the their recent extortion of Apple which is currently being contested. That’s money that would have otherwise been used for capital return to shareholders in the form of either dividends or share buybacks.
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While I don't agree with his "you American" comment there 's no reason to attack the EU either, believe me, Apple lost this case already, you get fined by the EU you pay.
Seems to me there are reasons for you to invest in some reading regarding this EU fine against Apple, might change your mind.
As for cook, good for him, he's doing great financial, don't always agree with him though and I really dislike him speaking, Craig Federighi is much-MUCH better and natural.
I think right now nobody would want to be associated with Musk. The guy is losing it. The fact that they didn’t use his mini coffin to rescue the kids in Thailand clearly pushed him offer the edge.
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Given the choice between 50 million legally vs 55 million and a chance to go to jail, what would you do?
The Enron guy did it for the annual $ 30million vs $40 million paycheck!
No reference to Tim Cook here, but never underestimate greed.
No, according to the article, he was awarded the stock bonus, and sold it immediately. He would have to pay ordinary income tax on the stock awards in any case, whether he sold it or not. He sold the bonus as soon as it was awarded, as is common practice. Capital gains would only apply on any gains beyond the value of the bonus on the day it was awarded. That's why there is no advantage to selling his old shares as opposed to these new shares. There's no difference in the net tax. Again, he owes ordinary income tax on the bonus, period.
Well they are specific that Cook sold "those" particular shares, so, my previous inference is modified.
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