Tim cook sold Apple shares for $ 35 million
Apple CEO Tim cook has exercised their right to sell shares in the company which he received this week. According to the Commission, US securities and exchange Commission (SEC), he sold part of the company’s securities in the amount of $35 million.
After five years as the head of Apple Tim cook received as a reward 1.26 million previously restricted shares of the company worth around $135 million, the majority (980 000 shares) is cook’s remuneration for the management of the Corporation, said in his report to the SEC. The added bonus of 280,000 securities was appointed cook for that quotes Apple within the last three years exceed the value of the shares two thirds of the companies that constitute stock index S&P 500.
According to the regulator, Tim cook almost immediately sold 334,000 shares of Apple for $36 million of the Paper for another $71 million went to cover taxes.
This stake is the largest, which cook has at its disposal once headed Apple. By the end of 2015 fiscal year, which ended in September, Apple’s CEO earned $10 million in salary and bonuses, but did not receive any additional grants of shares or options.
With the inauguration in August 2011, cook was awarded 1 million preferred shares as “compensation for 10 years of transition”, which after crushing in 2014 has turned into 7 million securities. Half of these securities was transferred at his disposal this year, the second half will be available to the CEO by 2021.
It is worth noting that the last five years, called the era of cook, was remarkably successful for Apple, and for the image of its leader. When Tim cook took over the Corporation at the end of fiscal 2011, operating profit Apple barely exceeded $100 billion. But last year, when the company reached the peak of its popularity, the size of her earnings exceeded $230 billion, gave a total of more than two-fold increase in less than five years.