Apple CEO Tim Cook has sold a significant portion of his Apple stock holdings, according to a recent filing with the US Securities and Exchange Commission (SEC). The sale, totalling over $50 million, comes as Apple’s stock price recently hit a new all-time high.

Cook reportedly sold 223,986 shares of Apple stock at an average price of approximately $227 per share, with other company executives following suit.

This transaction brings his total compensation for 2024 to over $70 million, including his base salary and performance-based bonuses.

Apple executives, including Cook, are awarded company stock as part of their compensation package. These stock grants typically vest over a period of time, with a portion becoming available for sale each year. This recent sale by Cook represents a portion of his vested stock options.

The pre-arranged trading plan implemented on August 31, 2023 aims to shield company CEOs from insider trading allegations. This type of plan allows company insiders to offload shares at predetermined times and prices. The pre-arranged trading plan is known as a Rule 10b5-1 plan. In simple terms, Apple CEO share sale is a routine financial practice post rollout of this plan.

Additionally, several key AAPL executives have recently sold shares. COO Jeff Williams sold 59,370 shares, generating $13.5 million. Meanwhile, Deirdre O’Brien, SVP of Retail, sold 61,019 shares worth $13.8 million. Similarly, Katherine Adams, Apple’s General Counsel and SVP of Legal and Global Security, sold 61,019 shares, also netting $13.8 million.

Tata Electronics plant

Tata Electronics said it plans to resume partial operations at its fire-hit Tamil Nadu-based factory from Thursday.

The operations have been suspended since September 28 after a massive fire broke out at a chemical godown of the electronics component factory of Tata Electronics at Hosur in Tamil Nadu.

With inputs from PTI