Tim Cook Sells 20,000+ AAPL Shares for $11.1 Million

According to filings with the SEC earlier today, Apple’s chief executive Tim Cook has sold 20,178 shares of AAPL stock in a series of transactions over the past two business days. During this time period, the price of individual Apple shares fluctuated between $547 and $551, leaving Cook with a grand total of $11.1 million. Should he remain chief executive for another nine years, Cook will receive a total of 1,000,000 shares of Apple stock as a bonus for signing with the iPhone maker… 

The first 500,000 shares vest in 2016, while the remaining half-million shares will cash out on 2021, assuming that Cook retains his position within the Cupertino-based company. AAPL closed today at $552.00 per share, and is trending slightly higher in after-hours trading. Apple is the world’s most valuable company in terms of market capitalization, with a valuation that exceeds $514 billion. Exxon Mobil is the closest competitor with a market cap of “just” $403 billion.

[via iPhone in Canada]

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