Team Cook CEO holds 3.28 million Apple shares... Sold worth 56.2 billion KRW

Apple CEO Tim Cook is reported to hold more than 3 million shares of Apple stock.

Apple CEO Tim Cook [Photo by Yonhap News]

According to documents Apple submitted to the U.S. Securities and Exchange Commission (SEC) on the 4th (local time), Cook holds a total of 3.28 million shares of Apple stock. Based on the closing price on the 3rd, this amounts to approximately $565 million (766.1 billion KRW).

Among these, Cook recently liquidated 511,000 shares, netting $41.5 million (56.2 billion KRW) after taxes. This sale came after Cook announced in January that he would cut his salary by 40% compared to last year due to the economic downturn and poor performance this year.

His salary for this year has been set at $49 million. Last year, Cook received a total compensation of $99.4 million, including a base salary of $3 million and stock awards and bonuses amounting to $83 million.

Cook receives compensation in the form of stock grants contingent on achieving company goals. In August 2021, he sold most of the approximately 5 million Apple shares he received as compensation, cashing out over $750 million. This was the final payout of the compensation package he was awarded when he became Apple CEO in 2011, ten years earlier.

Deirdre O'Brien, Apple’s Senior Vice President of Retail, and Katherine Adams, General Counsel and Senior Vice President of Legal and Global Security, also sold Apple shares worth $11.3 million each.

Apple stock rose to $198.23 in July, nearing the $200 mark, but has since declined and is currently hovering in the $170 range, down more than 10% recently.