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Cook will also see 700,000 RSUs vest on August 24, 2021.
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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Maybe he knows something the rest of us don't. 30 something yrs ago when Syntec higher ups started selling their shares, I did, good thing too, they went belly up

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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I'm sure he earned every penny. Has nothing to do with riding on the coat tails and accomplishments of a past CEO.

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?
 
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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?

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.
 
"Keep buying dongles everyone!"

tim-cook-arms-event.png
 
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No. Capital gains tax on stock is 20% (over $426K 15% for us mere mortals).

Income tax is what you are thinking of and it is rarely what the rich pay, but most people don't understand that and therefore support raising it to punish the rich - I mean make them pay their fair share. When that really just hits the upper middle class.
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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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.
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 tax at issue is on the shares that he sold, not the ones he received as salary/bonus. Sure he paid tax on the income shares, but the sold shares will be from his existing portfolio of age, which will be at the same rate as anyone pays for capital gains when selling a share held for over a year.



No, he paid tax only on the sold shares at the lowest capital gains rate, like the you and me. His income shares are taxed at the regular rate for his income bracket, but they stagger it to minimize the tax burden.



The state and federal taxes are balanced/offset by deductions of those taxes paid.

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.
 
Absolutely. In California, it doesn’t take very much income to put someone into the top tax brackets. For a single person, that’s 37% federal + 13.8% state + 3.8% ObamaCare Net Investment Income Tax. Highway robbery.

In EU it’s worse, so stop complaining you American :D
 
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.
 
The tax at issue is on the shares that he sold, not the ones he received as salary/bonus. Sure he paid tax on the income shares, but the sold shares will be from his existing portfolio of age, which will be at the same rate as anyone pays for capital gains when selling a share held for over a year.



No, he paid tax only on the sold shares at the lowest capital gains rate, like the you and me. His income shares are taxed at the regular rate for his income bracket, but they stagger it to minimize the tax burden.



The state and federal taxes are balanced/offset by deductions of those taxes paid.

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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In EU it’s worse, so stop complaining you American :D
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. :)
 
CEOs don't just sell stocks ahead of bad news, this is illegal and covered by SEC rules now that make companies set sell-off dates in advance either as a part of a vesting program or just an up front disclosure that a year from now, they plan on selling X amount of shares no matter what the price.

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.
 
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.
 
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. :)

OT
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.
 
Nah. Maybe he's ready to help out Musk at Tesla? Not likely. Nope it's just hedging his personal best when he can before it all gets far too expensive to hold.
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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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.
Given the choice between 50 million legally vs 55 million and a chance to go to jail, what would you do?
 
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Tim’s probably worried that mac pro will have a lot of issues...so he’s planning to bail out.
 
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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.
 
The tax at issue is on the shares that he sold, not the ones he received as salary/bonus. Sure he paid tax on the income shares, but the sold shares will be from his existing portfolio of age, which will be at the same rate as anyone pays for capital gains when selling a share held for over a year.



No, he paid tax only on the sold shares at the lowest capital gains rate, like the you and me. His income shares are taxed at the regular rate for his income bracket, but they stagger it to minimize the tax burden.



The state and federal taxes are balanced/offset by deductions of those taxes paid.

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.
 
Absolutely. In California, it doesn’t take very much income to put someone into the top tax brackets. For a single person, that’s 37% federal + 13.8% state + 3.8% ObamaCare Net Investment Income Tax. Highway robbery.

No, no, no! That’s paying their fair share!

/sarcasm
 
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Apple CEO Tim Cook last Friday was awarded 560,000 shares of Apple stock as payment for his service as Apple's CEO and Apple's strong performance under his leadership.​

Following the award, Cook this week sold more than 265,000 of those shares at prices ranging from $216.96 to $218.54, netting him nearly $57.8 million. The remaining 294,840 shares worth more than $63 million were withheld by Apple for taxes.

Well they are specific that Cook sold "those" particular shares, so, my previous inference is modified.:oops::confused::cool:
 
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