Apple CEO Cook, other execs, sell stock
Apple CEO Tim Cook and other executives sold significant amounts of stock, as disclosed in a filing with the SEC. Cook sold 223,986 shares valued at approximately $28 million, while COO Jeff Williams sold 59,370 shares for $5 million, and SVP Deirdre O'Brien and General Counsel Katherine Adams each sold 61,019 shares worth $8 million. These transactions were executed under the Rule 10b5-1 trading plan, aimed at preventing insider trading. Following the news, Apple shares fell 0.5% in premarket trading.
- Apple (NASDAQ:AAPL) Chief Executive Officer Tim Cook and several other Apple executives sold stock in the tech giant, the company disclosed late on Wednesday.
- Cook sold 223,986 shares worth approximately $50.28M, according to the filing with the Securities and Exchange Commission. The instruction to sell under the Rule 10b5-1 trading plan was first provided on May 21, with the date of sale having occurred yesterday.
- Rule 10b5-1 was enacted in April 2000 as part of a crackdown on insider trading.
- Also selling stock were Chief Operating Officer Jeff Williams, who sold 59,370 shares worth $13.5M; Senior Vice President of Retail Deirdre O'Brien, who sold 61,019 shares worth $13.8M; and Katherine Adams, Apple's general counsel and senior vice president of Legal and Global Security, who sold 61,019 shares worth $13.8M.
- The sales of the aforementioned trio were also conducted under the Rule 10b5-1 trading plan.
- Apple shares were down 0.5% in premarket trading on Thursday.