Former Apple CEO Tim cook sold shares of the company for almost $64 million
On the same day, Apple’s new CEO John Ternus sold the shares
Apple chairman and former CEO Tim Cook sold nearly 192,000 shares of the company for about $63.7 million. Such data was published by the Securities and Exchange Commission (SEC) of the United States.
The transaction took place on October 2 and was divided into four tranches. The shares were selling at $331.44 to $333.94 apiece. At the same time, Cook was awarded more than 374.5 thousand shares under the RSU remuneration program. Now, after the sale, Tim Cook owns about 3.24 million shares of Apple. The sale was planned - Tim Cook made it in accordance with the trading plan, which he adopted on May 28, 2026.
RSU (Restricted Stock Units) is a form of employee remuneration with company shares that are transferred when certain conditions are met. In particular, the number of shares accrued to Apple’s top manager depends on the company’s total return for shareholders compared to other companies in the S&P 500 index over a three-year period.
Depending on Apple’s outcome, an executive can be handed between 0 and 200% of the originally set amount of RSU.
At the same time, new Apple CEO John Turnus sold more than 25.4 thousand shares of Apple for about $ 8.46 million. The selling price ranged from $331.38 to $334.05 per share. The sale also followed Ternus’ payment of 99,800 RSU shares.
Earlier, the US Securities and Exchange Commission reported that John Turnus will receive a salary of $ 3 million a year.
In addition to his salary, his compensation package includes $2.5 million in shares (RSU) for fiscal year 2026 and $55 million for 2027. However, judging by the results of the company, he, according to the documents, received more.
The document says the transactions were conducted under a plan that Turnus adopted on May 21, 2026, under SEC Rule 10b5-1.
This is a U.S. Securities and Exchange Commission rule that allows insiders to legally sell and buy shares of their company under a pre-arranged plan.
On September 1, Tim Cook resigned as CEO of Apple. He was replaced by Apple veteran former Vice President of hardware development John Patrick Turnus. Cook became executive chairman of the board. The company said it would “assist with certain aspects of the company’s operations, including engaging with policymakers around the world.”.
