Apple CEO Tim Cook sold 294,000 shares and grossed about $ 131.7 million in the late afternoon of last Tuesday (25). The executive had received a number of close to 560 thousand bonds, as indicated by a document from the United States Securities and Exchange Commission (SEC) and, while increasing his fortune, donated the equivalent of US $ 5 million in shares of the apple to financial institutions. charity.
According to the SEC document, Tim Cook sold 265,000 Apple titles with values ranging between $ 493.50 and $ 500.11. The negotiation yielded millionaire values to the CEO, now richer and the rest of the papers – equivalent to US $ 148 million – will be used to pay the company’s taxes.
Tim Cook’s negotiation is not surprising. As with any sale of shares of company executives, the CEO maintained ownership of 250,000 securities to avoid accusations of “insider trading” – a phenomenon where the main holder of securities of a company takes advantage of internal information for negotiations. Therefore, the executive respects the rules of Rule 10b5-1, determined by the SEC.
This year, Cook’s net worth has exceeded the $ 1 billion mark, according to estimates calculated by Bloomberg’s billionaire index. Apple has already reached a market value of $ 2 trillion and the CEO has control over the total securities that reach $ 418 million.
The sale of the shares was duly documented by the United States Securities and Exchange Commission and the document is open for public consultation.