Apple CEO Tim Cook sells $55 million worth of stock in the company
| Keith Griffith For Dailymail.com
8/29/2019 11:47 PM EST
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Apple CEO Tim Cook has sold millions of dollars of the company's stock in his first such sale of the year.
Cook sold 265,160 Apple shares on Monday for a total of $54.7 million, an average price of $206.17 per share, according to a filing with the Securities and Exchange Commission.
Sale - Rule - Preset - Trading - Plan
The sale was executed under Rule 10b5-1, a preset trading plan in which an executive sells stock under advance specifications to avoid the appearance of bias or insider trading.
One day before the sale, Cook acquired 560,000 Apple shares through restricted stock units that...
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