Apple CEO Tim Prepare dinner has bought a good portion of his Apple inventory holdings, in response to a current submitting with the U.S. Securities and Trade Fee (SEC). The sale, totalling over $50 million, comes as Apple’s inventory worth just lately hit a brand new all-time excessive.
Prepare dinner reportedly bought 223,986 shares of Apple inventory at a mean worth of roughly $227 per share.This transaction brings his whole compensation for 2024 to over $70 million, together with his base wage and performance-based bonuses.
Apple executives, together with Prepare dinner, are awarded firm inventory as a part of their compensation package deal. These inventory grants usually vest over a time frame, with a portion turning into out there on the market every year. This current sale by Prepare dinner represents a portion of his vested inventory choices.
What’s the rule beneath which Apple CEO Tim Prepare dinner bought his shares
The pre-arranged buying and selling plan carried out on August 31, 2023 goals to protect firm CEOs from insider buying and selling allegations. Any such plan permits firm insiders to dump shares at predetermined instances and costs. The pre-arranged buying and selling plan is called a Rule 10b5-1 plan. In easy phrases, Apple CEO share sale is a routine monetary observe put up rollout of this plan.
In 2023, Prepare dinner earned a base wage of $3 million, however his whole compensation package deal was considerably larger, reaching $66.2 million resulting from inventory awards, efficiency bonuses, and different advantages. Regardless of the sale, Prepare dinner stays a big shareholder in Apple, nonetheless holding thousands and thousands of shares. Analysts imagine the sale is unlikely to have a significant influence on Apple’s inventory worth, which stays close to its all-time excessive.