35 million and he can't buy a decent MacBook Pro. What a pity
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Apple CEO Tim Cook Sells More Than $35M in Stock
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Well it's not unheard of that CEOs are selling their own shares, wheter that's a good or bad thing is up to everyones imagination. At least he has enough money now to fund his own gay parade and other political crap instead of focusing on the part that's really important: leading Apple the way Jobs did...
All the rumours about the lack luster iPhone 7 aren't exactly non-public information.
Why would he release a product that's going to flop? After pumping all that money into R&D you think they'd use something they invented.
You guys are amazingly creative when coming up with ways to put a downer on Apple. Apparently without Jobs, they're not even a competent company. Like... Worse than Blackberry in your guys opinion. It's laughable how you ignore facts.
Ok. I don't like to play the Apple is doomed card because I believe they will be around for a long freaking time, but it does seem a bit odd timing wise that he would do this.
Can anyone that knows more about... Stuff put this into a rational context for me?
Can anyone that knows more about... Stuff put this into a rational context for me?
Yet, He let Apple Watch out of the door and he will let iPhone 7 out of the door.
He probably know iPhone sales probably going down from now on. Frankly, with iPhone 7, iPhone's sale is going down for sure.
I feel some people expected the Apple Watch to replace iPhone in a similar way that iPhone replaced iPod.
However, what we got was arguably the best wearable there is. The sports functions of a Fitbit, the style aspect of a fashion focused wristwatch, and a high quality smartwatch which displays notifications at a glance.
Wow people, that envy green colour don't wash off easily.
TC's net worth is about $800m and he sells $35m, big deal.
Insider selling is strictly regulated and reading anything into the timing is a waste of time.
It's called filing a 10b5-1 form with the SEC.
For newbie investors, please read-up on how CEOs and other insiders are allowed to buy/sell stock:
http://www.investopedia.com/articles/stocks/07/10b5-1.asp
TC's net worth is about $800m and he sells $35m, big deal.
Insider selling is strictly regulated and reading anything into the timing is a waste of time.
It's called filing a 10b5-1 form with the SEC.
For newbie investors, please read-up on how CEOs and other insiders are allowed to buy/sell stock:
http://www.investopedia.com/articles/stocks/07/10b5-1.asp
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You seem to forget that Buffet just bought over $200 million in Apple stock. When the Oracle invests like that, it's a sign the company is doing fine and about to do even better.
CEOs frequently sell their stock after getting their bonuses awarded. Countless other CEOs including Jobs have done the exact same thing. Zuckerberg did last year too. Gates did it often. People that know nothing about executive compensation and its relation to stock sales need to stop crying as they know nothing about how the business world functions.
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If only others in there would read this and have at least a tiny understanding of executive compensation. They seem to incorrectly believe that CEOs can sell any time they choose and at a moments notice. They also seem to believe that a CEO selling stock means doom for the company, which is simply stupid.
The timing of this sale has only to do with the anniversary of Mr. Cook's becoming CEO of Apple.
I won't get lost in the details of Mr. Cook's RSU awards dating back to when he was the CFO. But what he's typically done (pursuit to trading plans adopted well in advance) is sold shares that were for multi-year periods as soon as they vested. For several years now he's also had large blocks of shares vesting each year, those he typically holds.
So each year at this time, assuming Apple stock meets certain performance criteria, he gets 560,000 shares. A little more than 50% of those shares are withheld by Apple for tax purposes and the rest go into Mr. Cook's trust. But this year he got an additional 700,000 shares (as he will again in 2021, assuming he's still with the company). A little more than 50% of those were withheld for tax purposes as well, but the remaining shares were sold by Mr. Cook's trust. That was 334,000 shares that he sold of the 600,000 or so that he received after the tax withholding. The other 270,000 or so (representing what was left from the number of shares that vest annually) were kept.
What happened here is just business as usual for Mr. Cook. He keeps the shares that vest annually (on August 24th) and sells the shares that vest over longer periods of time - in this case, shares that vested five years after he became CEO. In 2014 he did the same thing with the great majority of the shares that had taken 4 years to vest and which he had been awarded when he was still CFO. He did the same thing in 2012 with vesting shares which he had been awarded about 3-1/2 years earlier. Both of those blocks of vesting RSUs were bigger than the block he sold this week.
So... he sold these shares on Thursday and Friday because he received them on Wednesday and because, going back several years, that is what he normally does when such RSUs vest.
After these transactions Mr. Cook's trust holds about 1.31 million shares. And he's set to receive another 3.5 million over the next 5 years.
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Yep, depending on the level of the executive and their knowledge of what the company is planning, the longer the runway. Given Tim's the CEO, my guess is his stock plan is likely 2 years.
This is a non-story. This would have been in his plan to cover off the tax burden for his vesting of shares (as the story states). His salary actually isn't that high...I'm sure he'd have a hell of a time scraping together $35M to give to the IRS if he didn't do this!
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Eddy Cue's Ferrari.
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I wonder if the iShip is for sale?
Whoever did that should be staked out in a desert somewhere....maybe near a fire ant hill.Eddy Cue's Ferrari.
Proof that karma doesn't exist. Just SO WRONG!!!
You appear to have no idea how stocks work, or large or small companies, for that matter.
This is how Tim Cook gets paid.. to run the highest value company in the world.
They know exactly when to release new models and when to buy and sell whatever they themselves own.
Pretty sure they don't waste much time complaining about products they don't own and don't care about, on fan sites like this one. They leave that kind of negativity to others. Well done folks.
This is how Tim Cook gets paid.. to run the highest value company in the world.
They know exactly when to release new models and when to buy and sell whatever they themselves own.
Pretty sure they don't waste much time complaining about products they don't own and don't care about, on fan sites like this one. They leave that kind of negativity to others. Well done folks.
According to the experts in this forum YOU ARE DEAD WRONG. They are saying that this is pocket change for him, that this has been planned years ahead, and most importantly that W. Buffet just bought a bunch of stocks.
This has nothing to do with the upcoming iPhone 7 disaster, with EU investigation, with the problems in the Chinese market, or with THE LACK OF INNOVATION!
They also think that if you don't stop making naughty comments like this, Santa Claus is not going to bring gifts for you this year.
I don't think he's earned that bonus. Apple is stagnating. The blockbuster new products have dried up. iPhones sales are falling. He's simply not the right person for the job.
Reading actual informed replies about this would demonstrate how irrelevant all of this is. But that would require actually facing boring reality rather than living in "excitement" of conspiracy theories.
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Thanks for the additional reiteration of the silliness of it all.
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Quite a few posts in the thread provide the rational and realistic background for something like this.
I want to see the charity and political doner list a lot of this cash goes to before November.
But, but, this thread was almost completely content-free until you posted this. Now you've gone and spoiled it.
