Apple CEO Tim Cook has sold more than 220,000 shares of Apple worth more than 50 million US dollars (Rp774.9 billion). According to documents submitted to the US Securities and Exchange Commission (SEC), Cook sold 223,986 shares with a total value of 50,276,076 US dollars.
Although Apple shares are usually held for the long term, executives like Cook often sell part of their shares. This practice is legitimate and tied to rules to prevent insider trading. This move is nothing new for Cook, who also sold Apple shares in October of the previous year, generating around $41.5 million in 2023.
Earlier in April 2024, Cook also sold Apple shares worth around USD 16 million (IDR 247.9 billion). The sale of shares this time came after Cook received 219,502 Apple shares earlier this week as part of a performance-based award, which relates to Apple's share returns compared to other companies in S&P 500.
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Of the shares Cook received this week, 54,876 shares will be received in three stages in April 2027, 2028, and 2029. Meanwhile, 164,626 other shares are related to performance and will only be received on October 1, 2027. Up to 200% of these shares are acceptable depending on Apple's performance in the fiscal year 2025 to 2027.
In addition to performance-based awards, Cook also received various other stock awards, beyond his basic salary which reached 3 million US dollars (Rp46.4 billion) in fiscal year 2023. He also received 47 million US dollars (Rp728.4 billion) from a share award, 10.7 million US dollars (Rp165.8 billion) from non-equity compensation, as well as 2.5 million US dollars (Rp38.7 billion) from other compensations, most of which are related to security costs.
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