Apple CEO Tim Cook is selling $ 55 million worth of shares in the company for the first time this year
- Cook has executed a pre-planned share sale of 265,160 Apple shares on Monday
- It was his first sale of Apple shares since a sale of $ 57.7 million a year ago
- Cook continues to own 854,849 Apple shares through a trust after the sale
Apple CEO Tim Cook has sold millions of dollars of the company's shares in his first such sale of the year.
Cook sold 265,160 Apple shares on Monday for a total of $ 54.7 million, an average price of $ 206.17 per share, according to a request from the Securities and Exchange Commission.
The sale was conducted in accordance with Rule 10b5-1, a pre-set trading plan in which a director sells shares based on pre-specified specifications to prevent the appearance of bias or insider trading.
Apple CEO Tim Cook sold 265,160 Apple shares on Monday for a total of $ 54.7 million
The day before the sale, Cook acquired 560,000 Apple shares through closed shares that had become unconditional.
Apple has withheld 294,840 shares to meet the tax requirements for the unconditional shares of limited stock.
After the sale, he continues to own 854,849 Apple shares through a trust, worth around $ 178 million at current prices.
Cook also owns non-invested limited stock units representing 1.82 million Apple shares.
It comes almost exactly one year after Cook & # 39; s last sale of Apple shares on August 27, 2018. In that transaction, he sold 265,160 shares for $ 57.7 million.
So far this year the Apple share has risen by more than 30 percent and the shares have risen by 3.8 percent this quarter.
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