Tim Cook sold nearly $63.9 million in Apple shares this month

Tim Cook, the former CEO of Apple, sold approximately 200,000 shares of the company's stock on October 2, 2022. This transaction occurred one day after Cook's compensation package, which included 374,541 restricted stock units (RSUs), began to vest. RSUs are a form of stock-based compensation that grants employees ownership in the company upon the fulfillment of specific conditions.

In Cook's case, the number of shares vested was determined by Apple's performance relative to other companies within the S&P 500 index over a three-year period.

The RSU shares were sold in multiple transactions at varying prices between $330.66 and $334.50 per share. As of the publication date, Apple's stock was trading at $333.84 per share. To meet tax withholding requirements related to the RSU vesting, Apple withheld 199,038 shares, valued at $65,746,232 based on a price of $330.32 per share. The sale was facilitated under a Rule 10b5-1 trading plan that Cook established in May, ensuring the transaction had been prearranged.

Additionally, Cook transferred 26,325 Apple shares as gifts on October 2, though the recipient was not identified in the filing. Despite the sale, tax withholding, and gifted shares, Cook still owns over 3.2 million Apple shares through his trust. For a full report on the event, readers can refer to Investing.com, which provided an in-depth analysis of Cook's share sale. The original filing containing detailed information about the RSU vesting can also be accessed for further reference.