Some Apple executives sold more of the company’s stock in 2022 than the year before, but CEO Tim Cook didn’t sell any shares.
Tim Cook recently announced that he would voluntarily reduce his annual salary by 40% and now it has been revealed that he did not sell Apple stock in 2022 either, while Apple executives such as CFO Luca Maestri sold a significant amount of stock.
In one sale, Maestri sold $16.9 million worth of Apple stock, but now according to Barrons, he sold $44.4 million in stock throughout 2022. Deirdre O’Brien, senior vice president for retail and people, sold $35.3 million worth of Apple stock, while Kate Adams, general counsel, sold $38.1 million, all three selling more in 2022 than in 2021. Jeff Williams, Apple’s chief operating officer, sold less than in 2021, at $18.8 million, and $39.9 million in 2021.
By comparison, Tim Cook last sold Apple stock in August 2021. At that time, as part of his original deal to take over as CEO in 2011, he acquired 5,040,000 shares of Apple stock, all of which he sold for about $355 million.
Barrons noted that it is not known if Tim Cook voluntarily chose not to sell any Apple shares, or possibly, like other executives, a sale could be automatically triggered when predetermined conditions, such as rising share price levels, arise.
