Tim Cook has not sold any of his shares Apple during 2022, unlike other executives. This is claimed by Barron’s, the American newspaper that deals with information, statistics and financial market developments. Although Apple’s value had reached staggering figures at the start of last year, Apple’s number one he would not give in to the temptation to sell and maybe invest the money elsewhere, not even when it was clear that the trend was down.
From January (2022) to January (2023), Apple’s shares have lost about 30% of their value. The newspaper reports that the latest package sold by Cook – as a result of Rule 10b5-1, a planned sale against insider trading – dates back to August 25, 2021: 2.4 million shares for a revenue of 355 million, make about 150 dollars per share (at the time of writing they are trading at 140 dollars each, 15 more than on January 4, 2023 when the capitalization dropped below 2 billion).
For a year and a half now, therefore, no Apple share has come out of Cook’s wallet, while other executives have put several on the market (it’s all traced by the SEC, the American Authority that supervises the financial markets):
- CFO Luca Maestri sold 273,034 shares for $44.4 million (average of $163 each)
- adviser Kate Adams sold 256,139 shares for $38.1 million ($149 each)
- senior VP Deidre O’Brien sold 236,916 shares for $35.3 million ($149 each)
- COO Jeff Williams sold 105,901 shares for $18.8 million ($178 each).
Cook’s portfolio “explodes” with shares, and if he continues to accumulate more at the end of 2023, he will find many more. The news of the cut in the annual fee for 2023 is about ten days ago: will make just under $50 millioni.e. about 40% less than in 2022 (there were 84 million), but with an increase in the shares linked to Apple’s performance which is rose to 75% from 50% last year. Cook’s actual earnings could therefore depend on the performance of the shares.
