Apple CEO Cook, other execs, sell stock
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Contributor since / Followers
Contributor since / Followers
2 months ago
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- Apple (NASDAQ:AAPL) Chief Executive Officer Tim Cook and several other Apple executives sold stock in the tech giant, the company disclosed late on Wednesday.
- Cook sold 223,986 shares worth approximately $50.28M, according to the filing with the Securities and Exchange Commission. The instruction to sell under the Rule 10b5-1 trading plan was first provided on May 21, with the date of sale having occurred yesterday.
- Rule 10b5-1 was enacted in April 2000 as part of a crackdown on insider trading.
- Also selling stock were Chief Operating Officer Jeff Williams, who sold 59,370 shares worth $13.5M; Senior Vice President of Retail Deirdre O’Brien, who sold 61,019 shares worth $13.8M; and Katherine Adams, Apple’s general counsel and senior vice president of Legal and Global Security, who sold 61,019 shares worth $13.8M.
- The sales of the aforementioned trio were also conducted under the Rule 10b5-1 trading plan.
- Apple shares were down 0.5% in premarket trading on Thursday.