Apple CEO Tim Cook sells 220,000 shares: What is the rule that ‘requires’ CEOs to sell company shares

Apple CEO Tim Cook has sold a significant portion of his Apple stock holdings, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The sale, totalling over $50 million, comes as Apple’s stock price recently hit a new all-time high.
Cook reportedly sold 223,986 shares of Apple stock at an average price of approximately $227 per share.