Mr. Cook selling those shares likely wouldn't have had much affect on the share price. Around 50 million shares were traded that day, so his shares accounted for around 0.2% of the daily volume.Well it's a good thing it's pre-determined and not due to any doubts about the headset's reception or the phone sales slump in their biggest market, right as earnings are coming up in less than a month.
(also, is Tim selling 196,410 shares this week why the stock price has stayed down these past several days? My shares are looking extra sad these days. 😭)
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Tim Cook Sells Nearly 200,000 Apple Shares
- Thread starter MacRumors
- Start date
- Sort by reaction score
People should not shame Tim for selling some of his shares. Earning only $16.4 million after tax is not something to brag about. It just doesn’t buy much these days. It will probably only get him a used mega yacht or private jet. I bet a seller of a mansion won’t even take his call if all you got to spend is $16.4 million.
Timmy know something, and will soon resign too, before Apple will file for bancrupsy 😐
CEO would have never proceeded down the path of obvious misguidance.
Literally hired people away from Tesla/Ford. Also because of the project, it drove top employees away from the company like Stephen Zadesky.
Good management would be managing to not proceed down the path of obvious failure. A level 5 car needs tons of data. Going straight from nothing to level 5 is impossible, yet managers failed to see this.
it was reported Apple execs wanted to make a better Tesla. again, poor management.
Cant fault him for jumping ship. The EU is pulverizing Apple, and they're somehow making it worse for themselves but electing not to comply with the law, lol.
He isn't jumping ship, that is a tiny fraction of the stock he has in Apple.
Tim Cook is not being personally sued.
The point is that he is still giving away more money than he would have saved had he simply kept the money, paid the tax and spent the remainder on whatever he wanted.
So what if there is some tax write off to be had from donating it to charity? It’s still money going towards a worthy cause, and it’s money he isn’t spending on himself.
Why all the hate and negativity?
lol.
Early teslas would have made you four million if you went stock instead of the car.
Because of insider trading issues, I believe it's a sale of a predetermined number of shares on particular schedule without the option to cancel.
whether they sold 800,000 Vision Pros or 8, he would have still sold 200k shares today.
If he really wants to give his money away, he should just lower prices on his stuff and help all those customers who made him so rich.
The reason Tim Cook is so good at making money is because he doesn't care even a small fraction as much as Steve Jobs did in giving value to customers in terms of providing the highest-quality and most user-friendly products. Cook cuts as many corners as possible, provides as little to customers as possible, while simultaneously raising prices. Cook is the best CEO to shareholders precisely because he is an awful CEO to customers.
Nice to see that his $33m sale is being taxed at roughly the same rate as my 4 figure annual bonus 😅
Apple's CEO Tim Cook this week sold 196,410 shares of the company's stock, which had a total value of approximately $33.2 million based on the average sale price of the transactions, according to a U.S. Securities and Exchange Commission filing. After taxes, Cook netted nearly $16.4 million from the sales.
Cook received all of the shares that he sold this week as a performance-based stock award. Like other senior executives at Apple, he has a predetermined trading plan to sell company stock in accordance with insider trading laws.
Cook still owns nearly 3.3 million shares of Apple's stock following the sales, according to the filing. He has served as Apple's CEO since 2011.
In 2015, Fortune reported that Cook planned to "give away all his wealth."
Thanks, Michael Burkhardt!
Article Link: Tim Cook Sells Nearly 200,000 Apple Shares
Tim’s marginal federal income tax rate on ordinary income is almost certainly 37%. He is very likely paying at a rate higher than you, unless you happen to be exceeding $575K in ordinary income this year. And this does not even count the California state and local taxes that he must be paying.
Last edited:
Don’t think you understand the relationship between customers, revenue, board of directors and shareholders.
This interests as much as any billionaire selling something to be honest. The only enjoyment from this is from the man himself.
Seems like the same mindset that Boeing employed and look how they are doing.
If he pays that much tax on the sale his CPA/Accountants should be fired.
Too many ways to legally reduce that bill considerably.
(And before go hating on the rich...The top 1 percent pay FIFTY percent of all the tax revenue in the US)
Air Viision Pro with extra accessories a carrying a pouch an extra battery and Apple Care Plus. Should still have a few million left over.