On Oct. 1, 519,080 restricted stock units vested for Williams. The same day, he converted the RSUs to an equivalent number of Apple shares, held in his living trust.
The next day, he sold 257,343 Apple shares for $29.2 million, a per-share average of $113.59. The transactions were conducted through a so-called Rule 10b5-1 trading plan adopted in February 2019. Such a device is used by insiders to remove any potential bias they may have from the knowledge of material nonpublic information. When the parameters, such as timing, price, and volume, are met, trades are automatically executed.
2 weeks ago Apple’s Board of Directors granted CEO Tim Cook 336,987 restricted units of Apple’s stock for recognizing his “outstanding leadership” and “unparalleled innovation and focus”.