Cook sold more than 220,000 shares of Apple (AAPL.US) stock, worth over $50 million

Apple (AAPL.US) CEO Cook sold over 220,000 shares of Apple stock worth over $50 million, according to a filing with the U.S. Securities and Exchange Commission. Cook sold 223,986 shares of Apple stock, generating over $50 million in proceeds. Earlier this week, Cook also received 219,502 additional shares of Apple stock. Of these, 54,876 shares are planned to be granted in April 2027, 2028, and 2029 in thirds. The remaining 164,626 shares are performance-based and will be granted on October 1, 2027. These shares vest based on Apple's performance from fiscal 2025 to fiscal 2027, with a potential range of vesting from 0% to 200% of the target number. As of early 2024, Cook held over 3 million shares of Apple stock. The unsold shares are worth over $500 million, and stock grants make up a significant portion of his compensation package. The move is not uncommon for Cook, who often sells Apple stock in October. For example, in 2023, Cook generated about $41.5 million in proceeds by selling Apple stock. Cook also sold a significant amount of Apple stock in April 2024, generating about $16 million in proceeds. Similarly, Chief Operating Officer Jeff Williams sold 59,370 shares of Apple stock worth $13.5 million; Senior Vice President of Retail Deirdre O'Brien sold 61,019 shares of Apple stock worth $13.8 million; and Apple's General Counsel, Senior Vice President of Legal and Global Security Katherine Adams sold 61,019 shares of Apple stock worth $13.8 million. But Cook's sale of Apple stock comes as the company is undergoing a significant transformation and development period. Apple's Chief Financial Officer Luca Maestri will step down in January 2025, with Kevan Parekh taking over, which has excited investors and prompted caution. Apple is also preparing for a historic upgrade cycle for the iPhone 16, which analysts predict could push the company's valuation above $4 trillion. Despite challenges, including a 6.5% decline in sales in Greater China, Cook remains optimistic about the region's long-term growth. Apple's recent third-quarter earnings beat expectations, but concerns about the company's performance in China and its services business weighed on the stock.