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Apple CEO sells USD 36 mln worth of stock
2016-08-29 10:37:00| Telecompaper Headlines
(Telecompaper) Apple CEO Tim Cook has sold USD 36 million worth of the 1.26 million block of compensation stock he received in 2011 when he became head of the company, the Wall Street Journal reported, citing a filing at the Securities and Exchange Commission. The shares, which were previously restricted, were valued at USD 135 million. Cook has now hit the halfway point of a stock-compensation plan that could see him awarded 7 million shares by 2021. The CEO earned most of his shares, 980,000, by remaining CEO for five years. He earned the additional 280,000 shares because Apple stock outperformed more than two-thirds of the companies in the S&P 500-stock index over the past three years.
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Category:Telecommunications