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Apple CEO Tim Cook Gifts Nearly $5m Apple Stock to Charity

Apple CEO Tim Cook Gifts Nearly $5m Apple Stock to Charity

Apple CEO Tim Cook has donated 23,215 shares of his own company stock to an unidentified charity. The stock was worth nearly $5 million at the end of the trading day on Tuesday.

AppleInsider:

Cook’s charitable donation was recorded in a U.S. Securities and Exchange Commission filing today. As no shares were sold, a reporting price was not applied to the transfer. 

Apple stock finished the day at $215.04, meaning Cook’s gift, if converted today, would be worth $4,992,154.

Cook has made similar donations of owned company stock in the past. In 2015, Cook donated 30,000 share of owned AAPL stock to an undisclosed organization.

Corporate leaders are not required to publicly report a charitable transfer’s recipient. So, unless Cook decides to disclose the recipient of this week’s donation, it will likely remain unknown.

This week’s transfer leaves Apple’s CEO with 878,425 shares of beneficially owned Apple stock.

Cook has long been a well-known donor to charitable causes. Cook donated a “substantial sum to Human Rights Campaign’s Project One America in 2014. The project was created to promote LGBT rights in the U.S. South. Later in 2014, Cook donated Just under $300,000 to Pennsylvania’s Steel Valley School District. The funds were later used to purchase iPads for students and teachers.

Cook announced in 2015 that he plans to give a large amount of his wealth away to charity.

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