Apple CEO Tim Cook sells five million shares for a $750 million payout

Tim Cook became Apples CEO in August 2011, and since then, the company's share prices have risen from $13 to $147 currently, which is more than a tenfold increase. After ten years as the company's CEO, Cook has now collected his tenth and final tranche of his pay deal from 2011, and sold five million shares currently valued at $750 million.

A photo of Tim Cook smiling

The BBC reports that a U.S. Securities and Exchange Commission (SEC) has indicated that Cook has sold five million shares worth roughly $750 million. Bloomberg additionally notes that this shares award was also dependent on Apple's stock return in the past three years should be better than at least two-third of the companies in the Stock and Poor's 500 (S&P 500) market index, a feat that Apple was able to accomplish with ease. The executive reportedly negotiated a new compensation package than runs until 2026 last year as well.

Under Cook's guidance, Apple became the first U.S. company to hit a $2 trillion valuation. It is interesting to note that this happened in 2020, whereas the Cupertino tech giant was also the first tech company to hit the $1 trillion mark in 2018.

As can be seen from his recent payout, this has had favorable returns for Cook as well. The executive joined the billionaires club last year and is currently worth about $1.4 billion. That said, he is known to engage frequently in philanthropic activities. An SEC filing from just a couple of days ago shows that he donated $10 million to charity, although the recipient is unknown. In 2019, he also stated that Apple would donate to help rebuild the Notre Dame after it was substantially damaged in a fire.

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