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Apple CEO Tim Cook Sells Over $50 Million Worth of Stock
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The real question is, why does Craig still have a job?
- Constant software issues with bugs.
- Even outside of those bugs -- many issues with transferring information from one phone to another when someone buys a new iPhone and wishes to transfer their information.
- Software updates take 15-20 minutes. Hasn't been improved... Ever.
- Beta releases on launch day instead of the actual finished product (Apple Intelligence, Maps, etc.).
- Features implemented that are many years past due (AI, RCS, etc.).
- iCloud sync is slow, and always paused.
- iPad software is dumbed down significantly instead of utilizing the silicon chip's power.
- Apps, including iWork are far behind and have a lot more potential than the state they're currently in.
Who are we declaring the "writer of DOS"? Gary Kildall? Tim Paterson? Rod Brock? Paul Allen? Bill Gates? They all seemed to have a hand in it.
Kildall, Paterson, and Brock each had an opportunity to become extremely wealthy by investing in "their OS" via Microsoft stock purchases in the 1980s.
Converting stock to cash doesn't make you richer, just more liquid. He had already earned his shares.
Very true. But converting the stock also locks in one’s gains and protects against a fall in the company’s share price. It also blocks any potential gains in value due to a rising share price. There is a balance in how much to convert and how much to keep in any corporation’s stock. It varies by company - and the outlook for a given company. Presumably, Tim will invest the money elsewhere.
MR is so heavily moderated that I made a post in this thread that essentially said I like capitalism, but Tim Cook is paid too much and it got taken down?
Talk about censorship.
Talk about censorship.
That's what I said; if you aren't aligned, you'll be banned.
When you receive that $100 worth of stock (e.g. when the RSUs vest and you get control over shares), you're taxed on it as ordinary income just as you would be if you were paid $100 in cash. This is true whether you sell the shares or not.
If you keep the shares, whatever gains or losses happen after that are treated as capital gains or losses and taxed according.
In this case these are performance-based shares which would have vested on October 1st. He would have been due around 475,000 shares but Apple would have withheld more than 50% of the shares (those shares wouldn't even have been issued) and remitted their value to taxing authorities to meet withholding requirements. Mr. Cook would have received the 223,986 shares and that is what he, according to this Form 144 filing (and consistent with his regular practice), would be selling. We'll soon get another filling which will tell us what he sold those shares for. He'll then have a small capital gain or loss depending on whether he sold them for slightly more or slightly less than they were worth when he received them.
Speaking practically, the $50 million figure is what was left of this compensation after a little more than $55 million in taxes were taken out.
The $50 million-ish is what's left after his ordinary income tax liability. Without the tax withholding, he would have received more than $100 million worth of shares.
Really rich people like billionaires and millionaires are usually very tight people. They will unlikely splurge their cash frivolously. They are that rich because they don't waste their money.
Warren Buffet is worth like $143 billion dollars yet his wife was complaining about the cost of coffee being $4 dollars when she was visiting somewhere, calling it overpriced.
Awesome post mate, I couldn’t agree more; the big question is: when enough is enough for this type of people you know…..
us the regular people that we have to pay gas, dispenses, bills, worry that we might have be on budget next week; we do have to worry about it, when we do have money and deserved to treat ourselves and buy an iPhone an get a device almost wrap in a tissue….. Do we really deserve this??????
Tim: Why we call it Pro Max? Profit: Maximum.
The iPhone stopped being usable and practical after the iPhone X. The MacBook stopped being usable and practical after the NotchBooks. Apple don't innovate anymore, they replace perfectly working designs with dysfunctional bloated mess. Then they sell those new "designs" for insane overprice and call it "innovation so please keep buying it".
The fact that Tim no longer have any faith in Apple is why he is selling so much Apple stocks.
Most people in this thread don’t understand economics or executive compensation at all.