Tim Cook sold $63.8 million worth of Apple stock
The average price of the most expensive block of shares sold by Cook is only about 3% below Apple's all-time high
The transactions were carried out as part of a trading plan that Cook had agreed to back in late May / Photo: Kathy Hutchins / Shutterstock
About a month after stepping down as Apple’s CEO and assuming the role of executive chairman of the company’s board of directors, Tim Cook — sold approximately $63.8 million worth of common stock in the iPhone maker, according to his filing with the U.S. Securities and Exchange Commission (SEC).
According to the document, the transactions took place on October 2. The sale was conducted in four separate blocks. In total, Cook sold approximately 191,700 Apple shares at an average price ranging from $331.44 to $333.94 per share—roughly the same range in which the company’s stock traded on the exchange that day. The average price of the most expensive block of shares that Cook sold on October 2 was about 3% below Apple’s all-time high of approximately $345 per share (which the stock reached this past September).
The assets were sold under a Rule 10b5-1 plan—a rule that allows insiders of public companies to legally sell or buy shares of their company according to a predetermined schedule. Investing.com notes that Cook had planned to sell these blocks of stock as early as the end of May.
In addition, on October 2, according to a report by a top executive, he donated 26,325 Apple shares (at that day’s price, the donated shares were worth approximately $8.78 million); the recipient is not specified in the documents. Previously, the former CEO of the iPhone maker had frequently donated company stock to charity.
According to the documents, Cook still holds 3,237,843 Apple shares following these transactions. At the latest closing price, his stake is worth just over $1 billion.
What Else Is Known About Apple Executives' Transactions?
On the same day—October 2—according to SEC filings, John Turnus, who succeeded Cook as Apple’s CEO, sold more than 25,400 shares of the company for approximately $8.5 million. The transaction was also carried out under a Rule 10b5-1 plan approved in late May.
Context
Cook led Apple from August 2011, when he succeeded Steve Jobs, until September 1, 2026, when he handed over the CEO position to John Turnus while retaining his leadership role on the board of directors. During his tenure as CEO, Apple’s stock returned nearly 2,000% to investors. Since the beginning of the year, the iPhone maker’s stock has risen by nearly 24%.
Wall Street largely maintains a positive outlook on the company’s prospects: 27 analysts recommend buying Apple stock, 13 recommend holding, and only five recommend selling. However, Wall Street’s average price target for the company’s stock—$335.75 per share—is already about $1 lower than the most recent closing price.
This article was AI-translated and verified by a human editor
