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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. promoted to CEO in August 2011. At that time, the Board granted Mr. Cook one million RSUs as a promotion and retention award (“2011 RSU award”). Fifty percent (50%) of Mr. Cook’s 2011 RSU award was ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in a portion of the equity awards it 23 grants to executive officers in the future. In the past, these awards have been entirely time-based (i.e., vesting for continued service). In outreach discu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. date fair value of Mr. Cook’s award as originally reported in the Company’s Proxy Statement filed with the SEC on January 9, 2012. Therefore, in accordance with applicable SEC rules, the amendment h...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company does not achieve certain performance criteria. The modification does not contain an upside opportunity for overachievement of these criteria (i.e., the maximum number of shares payable t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ’s performance against that of other companies. The use of relative TSR creates inherent alignment with shareholders’ interests, and the measurement process for calculating relative TSR is simple and...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ’s 2011 RSU award to vest as follows: 100,000 RSUs remain scheduled to vest on August 24, 2016; 100,000 RSUs remain scheduled to vest on August 24, 2021; and the balance of 800,000 RSUs was separated...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. risk. Mr. Cook, however, expressed a strong desire to set a leadership example in the area of CEO compensation and governance and requested a larger at-risk percentage. Accordingly, the Compensation...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company’s relative TSR is in the 24 middle third, the RSUs in that tranche will be reduced by 25%, and if the Company’s relative TSR is in the bottom third, the RSUs in that tranche will be re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in 2014. Therefore, the tranche vesting in August 2014 will be measured against a one-year TSR period. The tranche vesting in August 2015 will use a two-year period. The tranches vesting in 2016 and...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. This would have been the result whether the Compensation Committee had applied a one-, two-, or three-year relative TSR measurement in August 2012. For the tranche that vested in August 2013, the Co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,877 shares vested on August 24, 2013. Modified Award—RSUs Vesting Time-BasedUnitsScheduledto Vest Performance Based Units Vesting / Earnout Date OriginalAward-RSUsVesting TSRMeasurement  Perio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 40,000 8/24/15 40,000 8/25/13 8/24/15 20,000 40,000 8/24/16 500,000 140,000 (3) 8/25/13 8/24/16 20,000 40,000 8/24/17 40,000 8/25/14 8/24/17 20,000 40,000 8/24/18 40,000 8/25...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 000 40,000 8/24/20 40,000 8/25/17 8/24/20 20,000 40,000 8/24/21 500,000 140,000 (4) 8/25/18 8/24/21 20,000 40,000 Total 1,000,000 672,877 163,562 327,123 (1) The 2012 tranche ve...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the award. This portion vested on August 24, 2013 based on services provided. The remaining 14,246 shares of the 2013 tranche (corresponding to the period from June 21, 2013 through August 24, 2013)...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. on August 24, 2021 as well as the additional 100,000 RSUs vesting on that date. 25 Dividend Equivalents. At his request, Mr. Cook’s RSU awards do not participate in dividend equivalents. Stock Ow...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the Company’s common stock with a value equal to approximately 35 times his base salary. Cash Compensation. Mr. Cook’s base salary of $1,400,000 has remained the same since November 2011. Mr. Co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. .W. Cook in its review of publicly available data as of September 28, 2013. Determining Compensation for the Other Named Executive Officers Team-Based Approach. Each named executive officer is a me...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. executive officer must contribute as a member of the executive team to the Company’s overall success rather than focus solely on specific objectives within the officer’s area of responsibility. Int...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. At the Compensation Committee’s request, Mr. Cook provides input for the Compensation Committee regarding the performance and appropriate compensation of the other named executive officers. The Comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and concluded that no conflict of interest exists that would prevent F.W. Cook from serving as an independent consultant to the Compensation Committee. The Compensation Committee periodically sought...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. compensation consulting firm annually. As part of the review process, the Compensation Committee will consider the independence of the firm in accordance with applicable SEC and Nasdaq rules. The R...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. market capitalization requirements for a company to be considered for the peer group remained consistent with 2012 levels at $15 billion and $25 billion, respectively. Applying these criteria, Dell ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. CBS Corporation Hewlett-Packard Company Time Warner Inc. Cisco Systems, Inc. Intel Corporation Time Warner Cable Inc. Comcast Corporation International Business Machines Corporation Verizon C...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. group. The thresholds for inclusion in the secondary peer group are $75 billion in revenue and a 12-month average market capitalization of $150 billion. Companies that are already included in the pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. are commensurate with the 27 Company’s performance. The Compensation Committee, however, does not set compensation components to meet specific benchmarks, such as targeting salaries “above the med...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. data provided by, the Compensation Committee’s independent executive compensation consultant. Consideration of Say-on-Pay Vote Results. Apple Inc. provides its shareholders with the opportunity to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. performance criteria to a portion of the Company’s future executive equity awards that have been entirely time-based in the past. At Mr. Cook’s request, the Compensation Committee began this initiat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. concerns of the Company’s shareholders. Apple Inc.’s management continues to engage in dialogue with its large shareholders, and the Compensation Committee will continue to consider the results of t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. awards and annual performance-based cash bonuses so that a substantial portion of each executive’s total compensation opportunity is linked directly to the Company’s stock price or otherwise driven ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -term equity awards rather than cash compensation. Apple Inc. believes RSUs create incentives for performance and further align executives’ interests with those of shareholders because an RSU’s value...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (with limited exceptions for special cases, such as awards to new hires or in connection with promotions). Consistent with this practice, the Company did not grant any equity awards to its executive...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. grant RSU awards. Long Vesting Periods Maximize Retention and Support Long-Term Focus. Apple Inc. believes granting awards with long vesting periods creates a substantial retention incentive and al...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -based incentives intended by the Company when the awards were granted and to treat employees with RSU awards consistently with shareholders. As noted above, at Mr. Cook’s request, his RSU awards do ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. compensation for the named executive officers is significantly below the median for executives with similar positions at peer companies. This positioning relative to peer companies is based on data s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. icers, as well as their exceptional individual performance, and to maintain internal equity among the executive team. Performance-Based Cash Bonuses. The Compensation Committee awards performance-ba...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. The target bonus of 100% of base salary is lower than those of peer companies, where median target bonus levels of executives with similar positions range from 143% to 189% of base salary; The maxim...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company’s internal business plan. The target and maximum net sales performance goals for 2013 were set at approximately 22% and 21% higher, respectively, than the target and maximum net sales perfor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2012 would be difficult to repeat in 2013, in part, because the Company’s business plan for 2013 included the introduction of new versions of existing products with higher cost structures and flat or...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 44,939 47,072 48,999 Payout Structure. The payout structure is based on an equal weighting of operating income and net sales because each measure is considered equally important in the Company’s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. on Actual Performance Net Sales 50% 100% 100% Operating Income 50% 100% 100% Total Payout 200% At the end of the year, the Compensation Committee determines the amount of the bonus to be p...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. net sales and operating income, and the Compensation Committee determined that no downward adjustments to the bonuses would be made based on individual performance. As a result, the Compensation Com...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. In addition, as explained above, the Company does not provide tax reimbursements to the named executive officers, nor does it provide perquisites or change in control benefits to its officers that ar...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -approved plan. While the Compensation Committee considers the deductibility of awards as 31 one factor in determining executive compensation, the Compensation Committee also looks at other factors...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the tranches of the award subject to performance criteria with measurement periods that begin after the modification are expected to be excluded from the $1 million deduction limit. However, the Comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. equity awards with performance-based vesting conditions to executive officers. Clawback of RSU Awards. The named executive officers’ RSU awards are granted under the Company’s standard RSU agreemen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ownership guidelines, Mr. Cook is expected to own shares of Company common stock that have a value equal to ten times his base salary. As discussed above, Mr. Cook already satisfies the guideline. O...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Compensation Decisions for 2014 Performance Conditions on Future Equity Awards. Apple Inc. has not yet determined the terms and conditions of any equity awards to be granted to the named executiv...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. was not a named executive officer in 2011. Name and Principal Position(a) Year(b) Salary($)(c) Bonus($)(d) StockAwards(1)($)(e) Non-EquityIncentive PlanCompensation(2)($)(f) All OtherCompensa...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 996,537 Peter Oppenheimer Senior Vice President,Chief Financial Officer 2013 866,061 1,750,000 16,791 (4) 2,632,852 2012 805,400 66,169,750 1,600,000 16,412 68,591,562 2011 700,014 70...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 50,420,415 2011 607,704 51,852,000 444,615 48,656 52,952,975 Daniel Riccio Senior Vice President, Hardware Engineering 2013 866,061 1,750,000 16,791 (6) 2,632,852 Jeffrey Williams Senio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company’s common stock on the date of grant. For a description of the assumptions and methodologies used to calculate the amounts in the table, see Note 1—Summary of Significant Accounting Polic...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Awarded in2012($)(i) Accounting Chargesdue to RSUModification toProvide DividendEquivalents(No AdditionalRSUs Awarded)($)(ii) Stock AwardsTotal($) Peter Oppenheimer 59,611,500 6,558,250 66,169,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. date fair value of stock awards during 2012. These values have been determined under the principles used to calculate the grant date fair value of equity awards for purposes of the Company’s financi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . (ii) Accounting Charges due to RSU Modification to Provide Dividend Equivalents. The amounts shown in Column (e) for Peter Oppenheimer, Eduardo Cue and Jeffrey Williams in 2012 include the increme...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3 bonus opportunity are shown in the table entitled “Grants of Plan-Based Awards—2013.” Apple Inc. exceeded the maximum performance goals for both net sales and operating income set by the Compensati...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status.  the Company’s contributions to Mr. Oppenheimer’s account under its 401(k) plan in the amount of $15,300; and (ii) Company-paid term life insurance premiums in the amount of $1,491. (5) This amount...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) plan in the amount of $15,300; and (ii) Company-paid term life insurance premiums in the amount of $1,491. (7) This amount represents: (i) the Company’s contributions to Mr. Williams’ account und...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. named executive officer’s total compensation shown in the table are base salary, an annual bonus, and long-term equity awards consisting of RSUs. Named executive officers also received the other ben...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. named executive officers in 2013. The tables entitled “Outstanding Equity Awards at 2013 Year-End” and “Option Exercises and Stock Vested—2013” provide further information on the named executive off...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 875,000 1,750,000 Eduardo Cue 875,000 1,750,000 Daniel Riccio 875,000 1,750,000 Jeffrey Williams 875,000 1,750,000 Description of Plan-Based Awards Each of the “Non-Equity Incentive Pla...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. entitled “The Role of Cash Compensation.” No new RSU awards were granted to the named executive officers in 2013. The material terms of the Company’s equity incentive awards are described under “Ex...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. officers as of September 28, 2013. Stock Awards Name (a) Grant Date(b) Number of Sharesor Units of StockThat Have NotVested(#)(c) Market Value ofShares or Units ofStock That HaveNot Vested(1)($...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) 60,343,750 8/24/2011 520,000 (3) 251,030,000 320,000 (3) 154,480,000 Peter Oppenheimer 9/21/2010 100,000 (2) 48,275,000 11/2/2011 75,000 (4) 36,206,250 Eduardo Cue 9/26/2009 2,5...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 100,000 (7) 48,275,000 Daniel Riccio 9/26/2009 3,750 (5) 1,810,313 10/5/2010 5,625 (8) 2,715,469 10/10/2011 12,500 (9) 6,034,375 8/23/2012 75,000 (10) 36,206,250 Jeffrey William...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 36,206,250 (1) The dollar amounts shown in Columns (d) and (f) are determined by multiplying (x) the number of shares or units shown in Column (c) or (e), as applicable, by (y) $482.75 (the closing...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. as discussed under “Executive Compensation—Compensation Discussion and Analysis” in the section entitled “Determining Compensation for the Chief Executive Officer.” Pursuant to the modification, 100...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. criteria. (4) The remaining RSUs subject to this award are scheduled to vest in their entirety on March 21, 2016, provided that the officer continues to be employed with the Company through the ve...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the officer continues to be employed with the Company through the applicable vesting date. 36 (8) One third of the remaining RSUs subject to this award vested on October 15, 2013, one third is sc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with the Company through the vesting date. (10) One third of this RSU award is scheduled to vest on each of December 23, 2013, April 23, 2015 and August 23, 2016, provided that the officer continu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. othy Cook 152,877 69,592,835 Peter Oppenheimer 75,000 31,837,500 Eduardo Cue 58,750 30,806,813 Daniel Riccio 20,000 11,045,119 Jeffrey Williams 86,250 38,222,325 (1) The dollar amount...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. its named executive officers, and the Company does not maintain any other plans or arrangements that provide for any named executive officer to receive cash severance or other cash payments in conne...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the Company’s fiscal year ended September 28, 2013. Name Estimated Total  Valueof Equity Acceleration upon Death or Disability($)(1) Timothy Cook 68,590,086 Peter Oppenheimer 39,497,640 Edu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. shows information, as of September 28, 2013, concerning shares of the Company’s common stock authorized for issuance under the Company’s equity compensation plans. Number of Securitiesto be Issued ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. approved by shareholders Total equity compensation plans 17,381,432 (5) 140.32 30,333,895 (1) The weighted average exercise price is calculated based solely on the exercise prices of the outs...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to outstanding RSU awards, and 215,632 shares subject to outstanding awards granted under the Director Plan, of which 211,698 shares were subject to outstanding options and 3,934 shares were subject...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. equity awards that have been assumed by the Company in connection with the acquisition of other companies. As of September 28, 2013, an additional 39,197 shares of the Company’s common stock were su...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ” with the SEC, and such information shall not be incorporated by reference into any future filing under the Securities Act or the Exchange Act except to the extent that the Company specifically inco...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and others, appointing the independent registered public accounting firm, reviewing the services performed by the Company’s independent registered public accounting firm and internal audit departmen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to which the independent registered public accounting firm may be retained to perform non-audit related services. Apple Inc. maintains an auditor independence policy that bans its auditors from per...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. firm (“EY”). The Audit Committee has also discussed with EY the matters required to be discussed by Auditing Standard No. 16, “Communications with Audit Committees” issued by the Public Company Acco...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Robert Iger Arthur Levinson 39 OVERVIEW OF PROPOSALS This Proxy Statement contains 11 proposals requiring shareholder action. Proposal No. 1 requests the election of eight directors to the Board....
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 11 are shareholder proposals. Each proposal is discussed in more detail in the pages that follow. PROPOSAL NO. 1 Election of Directors The Board has nominated directors Campbell, Cook, Drexler, G...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. election of the Board’s eight nominees. If any nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxy holders will vote for a nominee designated by the pre...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a majority of the shares present or represented by proxy and voting at the Annual Meeting and (ii) a majority of the shares required to constitute the quorum will promptly submit in writing his or he...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3 and No. 4 request amendments of the Company’s Articles to (i) facilitate the implementation of majority voting for the election of directors in an uncontested election by eliminating Article VII th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. shareholders and therefore proposes that shareholders approve separate proposals for the separate amendments to the Articles. Each amendment contemplated by Proposals No. 2 through 4 is not conditi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the proposed amendment, assuming Proposals No. 2 through 4 are all approved, which is attached to this Proxy Statement as Annex A. For convenience of reference, a copy of the Company’s Articles show...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that the Board had adopted a policy providing for majority voting for the election of directors in uncontested elections and that the Company would take steps to implement majority voting in its Art...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in California law, the state where the Company is incorporated. Section 708.5 of the California Corporations Code provides that if an incumbent director fails to be elected by approval of the shareh...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the annual meeting of shareholders to be held in fiscal year 2000, the directors shall be divided into two classes, designated Class I and Class II, each consisting of one-half of the directors or a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the second annual meeting of shareholders succeeding his or her election and until his or her successor was duly elected and qualified. At the 2000 annual meeting of shareholders, the Company transi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. laws at the meeting of the Board immediately following the Annual Meeting to adopt the majority voting standard set forth in California Corporations Code Section 708.5, and that standard will apply t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to read as follows: “This corporation is authorized to issue one class of shares designated “Common Stock”. The number of shares of Common Stock that this corporation is authorized to issue is 1,80...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Board to issue shares of preferred stock having voting, conversion and other rights to be determined by the Board in its sole discretion. This is referred to as “blank check” preferred stock bec...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ing Article III to reflect the deletion of Article IV. This amendment does not preclude the Board from issuing preferred stock in the future. However, if the proposed amendment of the Articles is ap...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. would establish a par value for the Company’s common stock of $0.00001 per share. Currently, the Company’s common stock has no par value. Article III of the Articles would be amended to establish a ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is authorized to issue is 5,000,000.” Apple Inc. anticipates that establishing a par value of $0.00001 per share will reduce corporate expenses and thus benefit shareholders. Under California law, ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. par value for its shares will, in some cases, result in the Company being assessed qualification or licensing fees on a similar basis as other companies that also have a nominal par value for their ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. This corporation is authorized to issue one class of shares designated “Common Stock” par value $0.00001 per share. The number of shares of Common Stock that this corporation is authorized to issue i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a result of this process and following careful deliberation, the Audit Committee has re-appointed Ernst & Young LLP as the Company’s independent registered public accounting firm and as auditors of ...