Apple CEO Tim Cook Sells Another $28.7 Million in Stock

[MacRumors]

Apple CEO Tim Cook this week sold another $28.7 million worth of Apple stock, according to documents filed with the SEC.

Cook sold 269,993 shares at prices ranging from $105.95 to $107.37, netting himself a total of $28,703,590. Combined with the 334,000 shares he sold last week for nearly $36 million, Cook has liquidated approximately $65 million in stock over the course of the last few days.

Cook last week received combined stock bonuses of 1,260,000, worth more than $100 million, as he reached his five-year anniversary as the CEO of Apple.

Following the sale this week, Cook continues to hold more than 1 million shares of Apple stock worth an estimated $110 million.

Apple's senior vice president of hardware engineering Dan Riccio also sold 49,996 shares of Apple stock this week, earning more than $5 million.

Article Link: Apple CEO Tim Cook Sells Another $28.7 Million in Stock

 

[penajmz]

Is it because the announcement next week will be a mess and the price will go down?

 

[Asarien]

That man is trash.

 

[acctman]

guess the new Mac's coming out won't be all that either :/

 

[MellowFuzz]

Getting out while the going's good...

 

[flat five]

probably wanting to buy something.. like an island.

 

[Pelea]

he's not selling stock, he's simply making the stock thinner to improve performance and reliability

 

[yesjam]

HE'S PREPARING FOR THE CRASH!

Just kidding...or am I?

 

[scottish]

Guess they've just run through the keynote and Tim's realised saying "it's our best ever line up" isn't going to cut it anymore.

 

[Cole Slaw]

Guess he has a feeling Apple stock will be going down in future.

 

[MellowFuzz]

Off to buy a HP Spectre, Sony Xperia and Samsung S3 Pioneer...

 

[Quu]

Probably because he knows the new iPhone will be underwhelming and Apples stock price is going to take a big hit.

 

[DoctorKrabs]

Tim's making me feel great about Apple this week.

 

[LordQ]

That man is trash.

He might not be a very good CEO in the eyes of many, but someone who fights for my right to privacy against the government is definitely not trash in my eyes.

 

[Crosscreek]

Tim says......."It's magical selling my Apple stock......

 

[sziehr]

Here is an unpopular idea he sold down the profit. He still holds the same
110 million in asset value. The man took his bonus and will probably donate a chunk and diversify.

 

[Vege-Taco]

Historically, Apple stock drops double-digit points in the weeks following an announcement. It's just good management of his portfolio. Sell off high, wait, buy low, repeat.

 

[Loco Emperor]

The lagdroid fanboys are out in full force with their speculation based on this and the upcoming keynote. Haha.

 

[littyboy]

He probably realized that the public realized that the next iphone is the same SHIZ

 

[skofarrell]

Given the random share quantities, this was an automatic sale to cover tax withholding on his giant bonus.

 

[Oblivious.Robot]

Abandon all hope? or we just overthinking it? Either way the timing is really interesting.

 

[TallManNY]

Historically, Apple stock drops double-digit points in the weeks following an announcement. It's just good management of his portfolio. Sell off high, wait, buy low, repeat.

This is just diversification and only a bit. The vast majority of his wealth remains in Apple. And the vast majority of his future wealth will come in the form of Apple stock.

He also isn't allowed to trade Apple stock. And I suspect he never buys any shares when he gets huge numbers as part of his compensation.

 

[satchmo]

Guess they've just run through the keynote and Tim's realised saying "it's our best ever line up" isn't going to cut it anymore.

Yet we know he'll say exactly just that with a straight face.

An improved camera in the iPhone 7 no matter how good, will appeal to a select few. The masses think the current ones are great already. And plenty fast enough too.

This keynote had better be more. Not just iPhones. Please show us you have a bigger vision than simply upgrading phones and new watch bands.

I'm hoping to be surprised, but I have my doubts.

 

[Cineplex]

Eddy: Hey, Tim! Wanna grab lunch with Dre and...

Tim: Eddy shut up and fill these bags with money! This place is going all Titanic, real quick.

Phil walks in

Phil: Can't take the money and run my ass!

 

[Scottsoapbox]

He didn't gain $65M. He merely reallocated his assets.