Apple CEO Awards $5 Million in Stock to Unidentified Charity

Apple CEO Awards $5 Million in Stock to Unidentified Charity

Apple CEO Tim Cook has donated shares of stock in the technology company valued at more than $5 million to an unidentified charity, AppleInsider reports.

According to a U.S. Securities and Exchange Commission filing dated August 22, Cook transferred 23,700 shares of Apple stock to a charity. Executives of publicly traded companies are not required to reveal the destination of charitable donations, and because no shares were sold, a reporting price was not applied to the transfer.

The gift occurred nearly a year to the day a similar transfer was executed. In 2015, Cook declared he would take a "systematic approach" to philanthropy and award the bulk of his estate to charity, before announcing a gift of fifty thousand shares to an unspecified organization. In 2014, he contributed to the Human Rights Campaign's Project One America and helped fund the purchase of iPads for students and teachers in Pennsylvania's Steel Valley School District.

(Photo credit: LeMagIT)

Mikey Campbell. "Apple CEO Tim Cook Donates $5M to Charity." AppleInsider 08/26/2019.