At $43 million a check I believe his welcome is unmatched.
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Apple CEO Tim Cook Sells Over $43M in Apple Stock
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At $43 million a check I believe his welcome is unmatched.
Don't forget he's promised to give away his wealth over the course of his lifetime regardless of current/potential stock price.
https://www.theguardian.com/technology/2015/mar/26/tim-cook-apple-donate-800m-fortune-charity
I disagree. I have never used Touch ID and know plenty that don’t either. This isn’t going to be as bad you want it to be.
Steve used to sell sell stock before announcements. You can see how Apple did after those sales.
That can't be typical, right?
I mean... there have been four generations of iPhones released with Apple's fingerprint sensor so far. That's easily a few hundred million iPhones out in the world right now that are TouchID capable.
I'm not doubting what you see... but that can't be the norm, can it? I'm talking big picture here. I never assumed people wouldn't use it. Not many anyway.
My 2 cents... I do use TouchID and I can't remember the last time I saw someone type in a passcode.
He decided to sell stock months / years in advance, so there is no way he can be accused of manupliting stock price in his favour, which would be against the law anyway.
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That can't be typical, right?
I mean... there have been four generations of iPhones released with Apple's fingerprint sensor so far. That's easily a few hundred million iPhones out in the world right now that are TouchID capable.
I'm not doubting what you see... but that can't be the norm, can it? I'm talking big picture here. I never assumed people wouldn't use it. Not many anyway.
My 2 cents... I do use TouchID and I can't remember the last time I saw someone type in a passcode.
I only know one person who doesn't: their phone was dirt cheap second hand because the sensor is broken.
i'm no tax expert, what is the specific tax reason for selling? because tim made less money this year or something?
That can't be typical, right?
I mean... there have been four generations of iPhones released with Apple's fingerprint sensor so far. That's easily a few hundred million iPhones out in the world right now that are TouchID capable.
I'm not doubting what you see... but that can't be the norm, can it? I'm talking big picture here. I never assumed people wouldn't use it. Not many anyway.
My 2 cents... I do use TouchID and I can't remember the last time I saw someone type in a passcode.
I’m not saying people don’t use it but I don’t and know many that also don’t. I just don’t see the point of not buying this phone if it doesn’t have Touch ID knowing the future phones probably won’t either.
This feature isn’t beneficial to me so I have no need for it
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So because you “only know one person who doesn’t” means everyone else in the world does?
There are tax considerations, but they likely aren't why he would sell these shares when they vested.
Regardless of when he sells the shares, their value when they vest is taxed as ordinary income. Because of that (and tax withholding requirements), a little over half of Mr. Cook's shares are withheld by Apple for tax purposes. Gains made after that on the remaining shares are taxed as capital gains.
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They don't have to disclose stock sales in advance. They do have to report them within 3 days after they happen.
That said, quite often such sales are made pursuant to a plan which is set up in advance - perhaps a month in advance, perhaps years in advance. But that isn't something that gets filed with or reported to the SEC. And shares can be sold even without such a plan, it's just that doing so under some circumstances can open the seller up to insider trading allegations. An established plan helps to protect against such allegations. I don't recall seeing reported sales for Mr. Cook that weren't made pursuant to a plan, but other Apple executives have reported sales that weren't made pursuant to a plan.
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They can sell shares whenever they want and sales don't have to be publicly announced in advance.
As I indicated in the previous post, such sales are often made pursuant to a plan established ahead of time. The details of those plans don't have to be disclosed though.
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In earlier years he typically kept the shares that vested annually. He would sell the large blocks that vested over several years, but keep the blocks which vested each year.
But last year he sold the annual shares and that's what I was expecting he'd do again this year. I suspect that will be typical going forward. Perhaps he wanted to accumulate an amount of AAPL shares and then start selling new shares he received once he had done so.
EDIT: To be clear, the timing of the sales has to do with the anniversary of Mr. Cook becoming CEO, and thus when his shares vest. That is in late August.
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Exactly....instead of the clickbait headline they used...it should be something like:
"Tim Cook executes long-planned sale of $43M worth of Apple stock options"
Man the numbers some people deal in.
I'm trying to repair a bunch of stuff on my house so I work 2 jobs to pay for it. This guy makes $43m in one call. (I'm not saying I deserve his money or he doesn't deserve it)
Then I look at my life and think man I've got food in my belly, a home, a family, and enough time to blow on a tech forum while browsing on my iPhone 6S. I'm very blessed and should always be thankful for what I have!!
I'm trying to repair a bunch of stuff on my house so I work 2 jobs to pay for it. This guy makes $43m in one call. (I'm not saying I deserve his money or he doesn't deserve it)
Then I look at my life and think man I've got food in my belly, a home, a family, and enough time to blow on a tech forum while browsing on my iPhone 6S. I'm very blessed and should always be thankful for what I have!!
Nothing to see here. TC is dumping some stocks to make room for more by performing his "moral responsibility to economy".
Why he sell so much ??? must be reason ???
New Ferrari, upgrading the swimming pool on his house, some _very_ expensive holiday...
I can tell you what he is not using the money for: Buying Gustav Klimt's "Portrait of Adele Bloch-Bauer I". Because that was sold for $158.5m. So he'll have to do three more sales like this one first, and by that time it probably goes for $200 million :-(
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Why would there be tax reasons? The reason for selling shares is either to spread out investments, or to spend the money.
To clarify: The plans and their details have to be announced to the SEC, and they have to be followed. I don't think the SEC would be allowed to tell the public about the plans though.
But you’re not, or any business for that matter. You don’t announce products that aren’t finished. Unless, you think the way Kickstarters run is smart business.
im probably asking more in general when CEOs sell their own shares.
steve ballmer sold huge chunks of MSFT in one sitting and i remember one article said that it was to "diversify his investments and plan for taxes". im wondering about the "plan for taxes" part
even elon said that he'll never sell his TSLA shares except for tax purposes
Rule 10b5-1 plans don't have to be disclosed. Some may choose to report the adoption or modification of a plan through an 8-K filing (though, in my experience, that isn't typical.) But even still, the details of the plans wouldn't need to be disclosed.
That said, Section 16 filings typical note that the transactions they are reporting were made pursuant to a Rule 10b5-1 plan.
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When CEOs and others acquire stocks as employment compensation - e.g., through vesting RSUs or by exercising stock options - they owe taxes based on the value of those stocks whether they sell those stocks or not. For RSUs, they owe ordinary income taxes on the market value of the stocks when they are acquired. For options, they owe ordinary income taxes on the market value minus the price they pay.
So CEOs and others often sell some of their shares in order to pay the taxes they owe. In Mr. Musk's case, e.g., he exercised more than a billion dollars worth of TSLA options last year - i.e., the market value of the shares was more than a billion dollars more than the price he paid for them. He then sold more than half a billion dollars worth of those shares in order to pay the taxes due on them. Otherwise, he'd have had to come up with that much cash some other way.
In Mr. Cook's case, he typically doesn't sell the shares (for tax purposes) himself. Apple withholds a little more than half of the shares he would otherwise get so that it can remit their value to tax agencies.
That can't be typical, right?
I mean... there have been four generations of iPhones released with Apple's fingerprint sensor so far. That's easily a few hundred million iPhones out in the world right now that are TouchID capable.
I'm not doubting what you see... but that can't be the norm, can it? I'm talking big picture here. I never assumed people wouldn't use it. Not many anyway.
My 2 cents... I do use TouchID and I can't remember the last time I saw someone type in a passcode.
My wife doesn't use it either, it blows my mind too but happy wife happy life