Apple CEO Tim Cook has sold off $54 million worth of Apple stock just weeks ahead of the launch of the next iPhone.

According to a filing with the US Securities and Exchange Commission, Cook sold off 268,623 restricted stock units for over US$43 million.

Bloomberg reported that this reflected the sale of all the net shares Cook was recently given for his performance, factoring in stock that was forfeited to pay for taxes.

The company has reportedly scheduled an event for September 12, where it is expected to unveil a new flagship iPhone and refreshes to the iPhone 7 and 7 Plus.

Apple’s shares have risen 41% so far in 2017.