Tim Prepare dinner has bought Apple inventory value over $50 million.
Apple’s CEO, Tim Prepare dinner, has bought over 220,000 shares of Apple inventory, that are valued at greater than $50 million.
Apple inventory has at all times been one to carry long-term, however executives are inclined to dump some inventory every now and then. The follow is all above board, given delays on gross sales required to forestall insider buying and selling practices.
In accordance with a latest submitting with the U.S. Securities and Change Fee, Prepare dinner bought 223,986 shares for a complete quantity of $50,276,076.
It’s not an uncommon transfer for the corporate’s CEO, as he typically sells Apple inventory in October. In 2023, as an example, Prepare dinner gained round $41.5 million by promoting Apple shares. Tim Prepare dinner additionally bought a major quantity of shares in April of 2024, which earned him roughly $16 million.
As initially noticed by MacRumors, Apple’s CEO was granted 219,502 shares of Apple inventory earlier this week, which he acquired as a part of a performance-based award. This award is tied to Apple’s shareholder return in comparison with different S&P 500 firms.
Of the shares Tim Prepare dinner acquired this week, 54,876 shares will vest in one-third increments in April 2027, 2028, and 2029, whereas 164,626 shares are performance-related and can solely vest on October 1, 2027. As much as 200% of the shares will vest, relying on Apple’s efficiency in fiscal years 2025 by 2027.
Apple’s CEO typically receives totally different efficiency awards and inventory awards, on high of his base wage, which equated to $3 million for fiscal yr 2023. Throughout the identical yr, he acquired $47 million in inventory awards, and made $10.7 million from non-equity compensation, together with $2.5 million in different compensation — primarily security-related prices.