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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. also invited to discuss the performance of Dr. Levinson directly with the Chair of the Nominating Committee. A summary identifying any themes or issues that have emerged is presented to the Board on...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. exceed $120,000 in a single fiscal year and the related party has or will have a direct or indirect interest in the transaction (other than solely as a result of being a director or less than 10% be...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Chair of the Audit Committee, if any, is provided to the Audit Committee for its review. In reviewing transactions subject to the policy, the Audit Committee or the Chair of the Audit Committee...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the related person’s interest in the transaction without regard to the amount of any profit or loss; The approximate dollar value of the related person’s interest in the transaction without rega...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , or was entered into, on terms no less favorable to Apple than terms that could have been reached with an unrelated third-party; The material terms of the transaction, including whether the transac...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ; Whether the transaction would impair the independence of a non-employee director; • Any other information regarding the transaction or the related person in the context of the proposed transactio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. would be material to the Audit Committee’s decision, in its business judgment, in light of the circumstances of the particular transaction. Any other information regarding the transaction or the re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Business Conduct: The way we do business,” set outs the principles that guide Apple’s business practices — honesty, respect, confidentiality, and compliance. The code applies to all employees, includ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. under the oversight of Apple’s Chief Compliance Officer. Employees are required to complete training on the code upon joining Apple and annually thereafter. With input from relevant stakeholders and...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to not forward to Board members any abusive, threatening, or otherwise inappropriate materials. Back to Contents Summary Governance Directors Compensation Proposals Other Information 2023 Pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the areas of strategic and financial planning, public company financial reporting, compliance, risk management, and leadership development. They also have in-depth public company experience serving ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. considers its composition and refreshment on an annual basis as part of its self-evaluation process. Most recently, in calendar year 2021, the Board added two new members, Monica Lozano and Alex Gor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and willingness to commit sufficient time to the Board, and relevant skills and experience in the context of the Board’s evolving needs. The Nominating Committee also considers the diversity of the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Board amended its Corporate Governance Guidelines to require an annual review by the Nominating Committee of each director’s various time commitments, including their primary occupation, service...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. CA 95014 USA. In addition, the proxy access provisions in our bylaws provide that a shareholder, or a group of up to 20 shareholders, owning at least 3% of our outstanding shares continuously for at...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Information 2023 Proxy Statement 29 Nominees for Election The following matrix highlights the mix of key skills, qualities, attributes, and experiences of the nominees that, among other factors,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Cook Bell Gore Gorsky Jung Lozano Sugar Wagner Core Leadership Corporate Governance Risk Management Financial Strategic Global Business and Operations Brand and Marketing People and...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ensation Proposals Other Information 2023 Proxy Statement 30 Core Skills Leadership Experience from serving in a significant leadership position, including as a chief executive officer, chief f...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ability to appreciate, anticipate, and effectively oversee the Company’s risk management. Financial Knowledge of financial markets, financing, and financial reporting processes helps our directors ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. experience managing people and teams, including recruitment, retention, development, compensation, and incentivization of key talent, provide strategic value in overseeing our efforts to recruit, re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. perspective as Apple operates in an increasingly regulated global environment. Privacy and Security At Apple, we believe privacy is a fundamental human right. Directors with experience or expertise...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. biotechnology and pharmaceutical companies, he also brings significant expertise in the health sector and technology and innovation. Career Highlights Dr. Levinson, 72, has served as the Chief Exe...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Medal of Technology and Innovation, the nation’s highest honor for achievement and leadership in advancing the fields of science and technology, and the Biotechnology Heritage Award from the Biotech...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Cook joined Apple in March 1998 and served as Executive Vice President, Worldwide Sales and Operations from February 2002 to October 2005. From October 2000 to February 2002, Mr. Cook served as Seni...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to Contents Summary Governance Directors Compensation Proposals Other Information 2023 Proxy Statement 32 James Bell Director since 2015 Audit Committee Key Skills and Qualifications Jam...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2008 to April 2012, having previously served as Executive Vice President, Finance and Chief Financial Officer from November 2003 to June 2008, and as Senior Vice President of Finance and Corporate Co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Five Years: Dow Inc.; DowDupont Inc.; JPMorgan Chase & Co. Within Last Five Years: Dow Inc.; DowDupont Inc.; JPMorgan Chase & Co. Al Gore Director since 2003 Compensation Committee Nominating Com...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. iner Perkins Caufield & Byers, a venture capital firm, since November 2007. He is the founder and current Chairman of The Climate Reality Project, a non-profit organization devoted to solving the cli...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Nominating Committee Key Skills and Qualifications Alex Gorsky brings to the Board executive leadership experience, as well as brand marketing expertise and extensive experience in the fields of he...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 4, Mr. Gorsky left Johnson & Johnson to join Novartis Pharmaceuticals Corporation, where he served as head of its pharmaceutical business in North America, before returning to Johnson & Johnson in 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ; JPMorgan Chase & Co. Current: International Business Machines Corporation; Johnson & Johnson; JPMorgan Chase & Co. Andrea Jung Director since 2008Compensation Committee (Chair)Nominating Committ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Jung previously served as Executive Chairman of Avon Products, Inc., a personal care products company, from April 2012 to December 2012, and as Chairman of the Board of Avon from September 2001 to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Within Last Five Years: Daimler AG; General Electric Company; Unilever N.V. Within Last Five Years: Daimler AG; General Electric Company; Unilever N.V. Back to Contents Summary Governance Direct...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the College Futures Foundation, a charitable foundation working to increase the rate of college graduation for low-income California students. Ms. Lozano served in this role from December 2017 to Au...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Weingart Foundation, a private grantmaking foundation advancing racial, social, and economic justice in Southern California, and is a Member of the American Academy of Arts and Sciences. Other Publ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , is the retired Chairman of the Board and Chief Executive Officer of Northrop Grumman Corporation, a global security company. Dr. Sugar served in this role from April 2003 to June 2010 and served as...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company Boards • Within Last Five Years: Air Lease Corporation Current: Amgen Inc.; Chevron Corporation; Uber Technologies, Inc. Current: Amgen Inc.; Chevron Corporation; Uber Technologies, Inc. ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. also brings extensive financial expertise and experience in the highly regulated financial services industry. Career Highlights Ms. Wagner, 61, is a co-founder of BlackRock, Inc., an asset managem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. : Current: BlackRock, Inc.; Samsara Inc.; Swiss Re Current: BlackRock, Inc.; Samsara Inc.; Swiss Re Back to Contents Summary Governance Directors Compensation Proposals Other Information 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , Pay Governance LLC (“Pay Governance”), and makes a recommendation to the Board. The Board determines the form and amount of Non-Employee Director compensation after reviewing the Compensation Commi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , received an additional cash retainer of $30,000; and the Chair of the Nominating Committee, Ms. Wagner, received an additional cash retainer of $25,000. All retainers are paid in quarterly installm...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. was determined by dividing $275,000 by the per share closing price of Apple’s common stock on the date of grant. A Non-Employee Director who is newly appointed to the Board other than in connection...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the portion of the period that has passed since the last annual meeting. Initial Director Awards are scheduled to vest on the next February 1 following the grant of the award. Each RSU award grante...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Equipment and Matching Gifts Programs Apple has an equipment program for the Board under which each Non-Employee Director is eligible to receive, upon request and free of charge, one of each new pro...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. defer a portion of their eligible compensation, subject to the terms of the Deferred Compensation Plan. The Deferred Compensation Plan is unfunded and unsecured. We do not provide any matching contr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with, or separately by, the individual’s spouse, or held in trust for the benefit of the individual, the individual’s spouse, or the individual’s children. Other than Ms. Lozano and Mr. Gorsky, who ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. “Executive Compensation.” Name Fees Earned or Paid in Cash ($) Stock Awards ($)(1) All Other Compensation ($)(2) Total ($) James Bell 100,000 274,941 8,773 383,714 Al Gore 100,000 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 376,474 Ron Sugar 135,000 274,941 14,006 423,947 Sue Wagner 125,000 274,941 5,477 405,418 (1)  In accordance with SEC rules, the amounts shown reflect the aggregate grant date fair value...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. his appointment to the Board, with a grant date fair value for each RSU of $150.81, which vested on February 1, 2022. Each Non-Employee Director serving on March 4, 2022, received an Annual Director...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (3)  Ms. Lozano participated in the Deferred Compensation Plan and deferred $37,500 of her 2022 annual cash retainer. The Deferred Compensation Plan does not provide for above-market or preferential ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2017. Prior to joining Apple, Kate served as General Counsel of Honeywell International Inc., a diversified technology and manufacturing company, from September 2008. Prior to joining Honeywell in 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Corporation, a business services and technology company, from February 2011 to February 2013; Chief Financial Officer at Nokia Siemens Networks; and had a 20-year career with General Motors Corporat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. re joined Apple in July 1988 and assumed her current position in February 2019. Deirdre’s previous positions with Apple include Vice President, People and Vice President, Operations. Jeff Williams ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 1998. Back to Contents Summary Governance Directors Compensation Proposals Other Information 2023 Proxy Statement 41 ExecutiveCompensation Message from our Compensation Committee 42 Comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for your support of its leadership and the essential values that contribute to our success. Under the extraordinary direction of Tim and the executive team, Apple continues to deliver exceptional sh...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Through this process we reached out to engage approximately 53% of institutional shares held. Based on these important conversations, we have made changes to the size and structure of Tim’s 2023 co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Analysis This Compensation Discussion and Analysis (“CD&A”) explains the guiding principles, policies, and practices upon which our executive compensation program is based; our decision-making proc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of $394.3 billion and record operating income results of $119.4 billion, year-over-year increases of $28.5 billion and $10.5 billion, respectively, during a challenging and volatile macroeconomic en...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. target for our named executive officers based on Apple’s TSR relative to other companies in the S&P 500 (“Relative TSR”), which was at: • the 99th percentile for performance-based RSUs held by Ms. O...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Summary of CEO Compensation,” below. the 99th percentile for performance-based RSUs held by Ms. O’Brien. the 99th percentile for performance-based RSUs held by Ms. O’Brien. In 2022, Mr. Cook did n...
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. This result was a notable year-over-year decline, as our annual Say on Pay proposals have received much higher levels of shareholder support for many years. As a result, fo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 53% outreach to institutional shares held during 2022 Shareholder Engagement Shareholder feedback is an important part of the compensation-setting process, and Apple has a long history of proactive...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. companies. There was also overwhelming support for Mr. Cook’s exceptional leadership and the unprecedented value he has delivered for shareholders. Overall, the feedback we heard from shareholders s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. changes to Mr. Cook’s compensation that balanced shareholder feedback, Apple’s exceptional performance, and Mr. Cook’s recommendation to adjust his compensation in light of the feedback received. W...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a reduction of over 40% from his 2022 target total compensation. The Compensation Committee also intends to position Mr. Cook’s annual target compensation between the 80th and 90th percentiles relat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. pro-rata vesting if he retires and the Compensation Committee intends to maintain this structure for future years. Back to Contents Summary Governance Directors Compensation Proposals Other I...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. compared to peer companies, such as targeting salaries. However, as noted above, the Compensation Committee intends to set the total target compensation for Mr. Cook between the 80th and 90th percen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . The 2022 primary group includes Alphabet, Amazon, AT&T, Charter Communications, Cisco, Comcast, Disney, IBM, Intel, Meta, Microsoft, Netflix, Oracle, Qualcomm, Salesforce, Verizon, and Visa. Reven...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. benchmark pay practices. Based on these criteria, Boeing was removed and AbbVie was added to the secondary peer group for 2022. The 2022 secondary peer group includes 3M, AbbVie, American Express, G...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Board and its independent compensation consultant, including Mr. Cook’s outstanding leadership, the immense scope and complexity of his role as Apple’s CEO, the Board’s confidence in his long-term s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2 Total Target Compensation: $84 million Base Salary: $3 million Mr. Cook’s base salary has remained the same since 2016 Annual Cash Incentive: $6 million Mr. Cook’s target annual cash incentive ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. granted an equity award with 75% performance-based vesting and 25% time-based vesting Alignment with Shareholder Value Creation The majority of Mr. Cook’s compensation has been delivered through l...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Compensation Proposals Other Information 2023 Proxy Statement 47 CEO Equity Award Decisions The design of Mr. Cook’s first RSU award as CEO (the “2011 Award”) demonstrated the full support of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and unparalleled success that Apple had achieved under Mr. Cook’s leadership. The Compensation Committee considered the strong compensation structure and practices that had developed for our other n...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 1 and 2022 awards also were intended to better align Mr. Cook’s long-term equity incentives with the annual timing and structure of the equity awards granted to our other named executive officers but...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . 2023 and Future Equity Award Decisions Following the 2022 Say on Pay advisory vote, subsequent shareholder engagements, and discussions with Mr. Cook, the Compensation Committee approved an equit...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. value of Mr. Cook’s 2023 equity award is $40 million; • The percentage of performance-based RSUs granted to Mr. Cook was increased from 50% to 75% of his 2023 target equity award and the percentage...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. relative to our primary peer group for future years; • The time-based RSUs awarded to Mr. Cook for 2023 provide for pro-rata instead of full vesting in the event of retirement during the term of th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 75% for future years; and The time-based RSUs awarded to Mr. Cook for 2023 provide for pro-rata instead of full vesting in the event of retirement during the term of the award. 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. the three basic components of our executive compensation program in a straightforward and effective way. The Compensation Committee reviews our executive compensation program each year. Following o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. SVP, Chief Financial Officer Role: 8 years Apple Tenure: 9 years Deirdre O’Brien SVP, Retail + People Role: 3 years Apple Tenure: 34 years Kate Adams SVP, General Counsel and Secretary Role: 5 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. $20 million 50/50 Our named executive officers were granted a balanced equity award with 50% of the equity award with performance-based vesting and 50% with time-based vesting to encourage long-te...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. promote teamwork in a straightforward and consistent way. Our clear guiding principles and sound compensation policies and practices align the pay of our named executive officers with company perfor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. performance expectations for our named executive officers each year that focus on Apple’s overall success. Emphasis on Long-Term Equity Awards We emphasize long-term performance, retention, and al...
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’ compensation. Variable payouts are designed to motivate our named executive officers to deliver strong annual financial results while advancing Apple values and key communi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. awards and the performance-based RSUs that vested in 2022 can be found below in the section entitled “2022 Long-Term Equity Awards and Results.” Our annual cash incentive program is a performance-b...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. community initiatives. Additional details regarding the 2022 annual cash incentive program can be found below in the section entitled “2022 Annual Cash Incentive Financial Performance Measures and P...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. long-term equity awards that emphasize long-term shareholder value creation and the retention of a strong executive leadership team through a mix of performance-based and time-based RSU awards. Addi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. officers under the annual cash incentive program are first determined quantitatively based on an equal weighting of the net sales and operating income performance measures. The target payout opportu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is not achieved for a financial performance measure, there is no payout for that financial performance measure. Payouts for our named executive officers are linearly interpolated for achievement bet...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -political environment and the continuing effects of the prolonged uncertainty caused by the COVID-19 pandemic on global business conditions. The Compensation Committee recognized that sustaining the...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. representing a year-over-year increase of $28.5 billion and $10.5 billion respectively. These achievements resulted in a maximum payout opportunity for each of the financial performance measures. A...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. opportunity upwards or downwards by up to 10% or determine not to make any adjustments. However, the Compensation Committee set an overall cap on annual cash incentive payouts of 200% of the total t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ensation Proposals Other Information 2023 Proxy Statement 51 Scorecard Focus and Highlights: Accessibility Scorecard Focus: Ensuring our products, services, and experiences are fully accessib...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. locations through 150+ partners in all 50 states and into the U.K. through our partnership with The Prince’s Trust • Launched Global HSI Equity Innovation Hub community grants in partnership with C...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Increasing representation of diverse groups with a particular focus on engineering and leadership and continuing to build and reinforce a strong inclusive culture Select Highlights: 47% of open lea...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ’s Supplier Code of Conduct, and supporting people in the supply chain Select Highlights: Announced $50 million Supplier Employee Development Fund to amplify worker voices and expand learning acces...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. giving Select Highlights: Donations in support of humanitarian efforts to help people impacted by crises and through the Strengthen Local Communities program to support over 100 nonprofits around ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Summary Governance Directors Compensation Proposals Other Information 2023 Proxy Statement 52 2022 Long-Term Equity Awards and Results Each named executive officer was granted a long-term ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Vesting schedules for time-based RSUs are generally longer than our peer companies. Time-based RSUs granted to our named executive officers on September 26, 2021 will vest in three equal annual inst...