Apple CEO Tim Cook has 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, he netted nearly US$16.4 million from the sales. Cook still owns nearly 3.3 million shares of Apple’s stock following the sales.
MacRumors notes that 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 stocks in accordance with insider trading laws.
Article provided with permission from AppleWorld.Today
