Apple executive chair Tim Cook has sold nearly $64 million worth of Apple shares, according to a new filing with the U.S. Securities and Exchange Commission.
The filing shows that Cook sold a total of 191,753 Apple shares on October 2, with prices ranging from $331.44 to $333.94 per share. The transactions were worth approximately $63.85 million in total.
The sale came one day after 374,541 restricted stock units held by Cook vested and were converted into Apple shares. Apple withheld 199,038 shares, valued at approximately $65.75 million, to cover tax obligations associated with the vesting.
Cook’s stock sale was carried out under a Rule 10b5-1 trading plan adopted in advance, allowing company insiders to arrange future share sales under predetermined conditions rather than making trading decisions based on information available at the time of each transaction.
The filing therefore does not indicate that Cook made a sudden decision to reduce his stake in Apple.
After the transactions reported in the filing, Cook continued to directly own more than 3.2 million Apple shares.
Cook stepped down as Apple CEO earlier this year after leading the company for around 15 years, becoming executive chair as John Ternus took over as chief executive.
Cook joined Apple in 1998 and became CEO in August 2011, shortly before Steve Jobs’ death. During his time leading the company, Apple expanded into new product categories including Apple Watch and AirPods while growing its services business and becoming one of the world’s most valuable companies.