Apple CEO Tim Cook attends the premiere of Apple’s “Ted Lasso” Season 2 at the Pacific Design Center in West Hollywood, California on July 15, 2021.
Axelle / Bauer-Griffin | FilmMagic | Getty Images
Apple CEO Tim Cook received more than five million shares of Apple this week, selling the majority of the shares for more than $ 750 million, according to an SEC filing published by Apple on Thursday.
The stock tranche is the final part of the compensation package that Cook received 10 years ago as Apple’s CEO. Last year he received a new compensation package that runs until 2026. Most of Cook’s compensation consists of restricted stock units.
Cook received the largest amount of stock to which he was eligible under the 2011 agreement, which was based on how Apple stock performed compared to other companies in the S&P 500.
Apple was in the top third of the companies in the cohort, with a total return to shareholders of 191.83% over the past three years, and ranked 13th out of 442 companies 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 worth of Apple stock to an undisclosed charity, according to an SEC filing. Cook previously said he would donate all of his fortune to charity. An Apple representative did not respond to requests for comment.