Apple CEO Tim Cook Buys $3 Million of Nike Shares

Apple CEO Tim Cook disclosed a astir $3 cardinal open-market acquisition of Nike shares this week (via Reuters).


According to a regulatory filing published yesterday, Cook purchased 50,000 Class B shares of Nike connected December 22 astatine an mean terms of $58.97 per share, for a full concern of astir $2.95 million. The filing shows that Cook present holds astir 105,000 Nike shares, a presumption valued astatine astir $6 million.

Nike shares roseate pursuing the disclosure, gaining betwixt astir 2% and 5% successful premarket and aboriginal regular-session activity, aft the banal had fallen sharply successful the days pursuing the company's astir caller net report, which highlighted ongoing challenges successful its business, peculiarly successful China. Nike is presently successful the aboriginal stages of a turnaround effort nether CEO Elliott Hill, who returned to the institution past twelvemonth aft retiring.

Cook has served connected Nike's committee of directors since 2005 and is its pb autarkic director, a relation helium assumed successful 2016 aft Nike co-founder Phil Knight stepped down arsenic chairman. In summation to his presumption astatine Apple, Cook besides chairs Nike's compensation committee, placing him successful a cardinal governance relation astatine the apparel maker. The December 22 transaction represents Cook's largest open-market acquisition of Nike shares successful years and comes astatine a clip erstwhile the institution is nether unit from investors pursuing a prolonged diminution successful its banal price.
This article, "Apple CEO Tim Cook Buys $3 Million of Nike Shares" archetypal appeared connected MacRumors.com

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