Tim Cook receives $ 750 million in Apple shares

Tim Cook receives $ 750 million in Apple shares

Apple CEO Tim Cook attends the Season 2 premiere of Apple’s “Ted Lasso” at the Pacific Design Center on July 15, 2021 in West Hollywood, California.

Axel / Bauer-Griffin | FilmMagic | Getty Images

Apple CEO Tim Cook received more than five million Apple shares this week, selling most of the shares for more than $ 750 million, according to an SEC filing released by Apple on Thursday.

The share tranche is the last part of the compensation Cook received after taking over as CEO of Apple 10 years ago. Last year he got a new compensation package that runs until 2026. The bulk of Cook’s compensation comes in the form of restricted stock units.

Cook received the most shares under the 2011 settlement, based on how Apple’s shares performed against other companies in the S&P 500.

Apple was third in the cohort, ranking 13th out of 442 companies, with a total shareholder return of 191.83% over the past three years, according to the filing.

Since Cook became CEO in 2011, Apple stock has risen more than 1,200%.

Earlier this week, Cook donated nearly $ 10 million in Apple shares to an undisclosed charity, according to an SEC filing. Cook had said earlier that he would donate his entire fortune to charity. An Apple representative did not respond to requests for comment.

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