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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. confer discretionary authority on the Company’s proxies to vote on any proposal presented by a shareholder at that meeting for which the Company has not been provided with notice on or prior to Nove...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , proxies cannot be voted for a greater number of individuals than the seven nominees named in this Proxy Statement. Name Position With the Company Age as ofthe AnnualMeeting DirectorSince Willi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. uit Inc. (“Intuit”) since August 1998 and a director of Intuit since May 1994. Mr. Campbell also is Chair of the Board of Trustees of Columbia University and a director of The National Football Found...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. served as Chairman of Current TV since 2002, Chairman of Generation Investment Management since 2004 and a partner of Kleiner Perkins Caufield & Byers since 2007. Mr. Gore also is Chairman of the Al...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a director of Avon since January 1998. Since July 1998, Ms. Jung also has been a director of General Electric Company, where she serves on the Management Development and Compensation Committee and t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. May 2009, Dr. Levinson has served as an advisor to Genentech’s Research and Early Development center and as a member of the Scientific Resource Board, Genentech’s external advisory group. Dr. Levins...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Capital LLC (formerly Harwinton Capital Corporation), a private investment company that he controls, since September 2000. Mr. York also has been a director of Dana Holding Corporation since January...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. its duties, directors are expected to take a proactive, focused approach to their position, and set standards to ensure that the Company is committed to business success through the maintenance of h...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. all committee members are independent under the applicable NASDAQ and SEC rules. The members of the committees are identified in the table below. Director Audit andFinanceCommittee CompensationCo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2009. The Compensation Committee is responsible primarily for reviewing the compensation arrangements for the Company’s executive officers, including the CEO, administering the Company’s equity comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , structure and composition of the Board and its committees, monitors the process to assess the Board’s effectiveness and is primarily responsible for oversight of corporate governance, including im...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Committee met a total of four times during 2009 and met after the end of the fiscal year to recommend to the full Board each of the nominees for election to the Board, as presented herein. The Audi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. during the periods that such person served). There are no family relationships among executive officers and directors of the Company. Audit Committee Financial Experts The Board has determined tha...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is available on the Company’s website at www.apple.com/investor. Apple Inc. intends to disclose any changes in or waivers from its code of ethics by posting such information on its website or by fil...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. appointment to the Board (an “Initial Option”). Initial Options vest and become exercisable in equal installments on each of the first three anniversaries of the grant date. Starting on the fourth an...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. units (“RSUs”) instead of options and to be made in connection with the Company’s annual meeting of shareholders rather than on the anniversary of the date the Non-Employee Director joined the Board...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. upon request and free of charge, one of each new product introduced by the Company and is eligible to purchase additional equipment at a discount. Director Compensation—2009 The following table pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -EquityIncentive PlanCompensation($)(e) Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) (f) All OtherCompensation($)(g)(2) Total($)(h) William V. Campbell 50,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 6,302 994,602 Eric E. Schmidt, Ph.D.(3) Jerome B. York 75,000 929,000 224 1,004,224 (1) The amounts reported in Column (d) of the table above reflect the aggregate dollar amounts for optio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. “Financial Statements and Supplementary Data” of the Annual Report in Notes to Consolidated Financial Statements at Note 7, “Shareholders’ Equity and Stock-Based Compensation.” The following table ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Levinson, Ph.D. 130,000 Eric E. Schmidt, Ph.D.(3) Jerome B. York 70,000 11 Apple Inc. granted to all Non-Employee Directors (other than Ms. Jung and Dr. Schmidt) an option to purchase 10,000 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . York, $929,000. For a discussion of the assumptions and methodologies used to value these awards, please see the discussion of option awards contained in Part II, Item 8, “Financial Statements and ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Board Any matter intended for the Board, or for any individual member or members of the Board, should be directed to the Company’s General Counsel at 1 Infinite Loop, Cupertino, California 9501...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. at www.apple.com/investor. Attendance of Directors at 2009 Annual Meeting of Shareholders All directors are expected to attend the Company’s annual meeting of shareholders. Six directors attended ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the Compensation Committee had any relationships requiring disclosure by the Company under the SEC’s rules requiring disclosure of certain relationships and related-party transactions. None of th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Cook Chief Operating Officer 49 Scott Forstall Senior Vice President, iPhone Software Engineering & Platform Experience 41 Ronald B. Johnson Senior Vice President, Retail 51 Robert Mansfie...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company in March 1998. Mr. Cook also served as Executive Vice President, Worldwide Sales and Operations from 2002 to 2005. In 2004, his responsibilities were expanded to include the Company’s Ma...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Mr. Cook also spent 12 years with International Business Machines Corporation (“IBM”), most recently as Director of North American Fulfillment. Mr. Cook also has served as a director of NIKE, Inc. ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in January 2000. Prior to joining the Company, Mr. Johnson spent 16 years with Target Stores, most recently as Senior Merchandising Executive. Robert Mansfield, Senior Vice President, Mac Hardware ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , Mr. Oppenheimer was Chief Financial Officer of one of the four business units for Automatic Data Processing, Inc. (“ADP”). Prior to joining ADP, Mr. Oppenheimer spent six years in the Information T...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. rejoined the Company in April 1997. Prior to rejoining the Company, Mr. Schiller was Vice President of Product Marketing at Macromedia, Inc. from December 1995 to March 1997 and Director of Product ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , Mr. Serlet worked as a research engineer at Xerox PARC from 1985 to 1989. D. Bruce Sewell, Senior Vice President, General Counsel and Secretary, joined the Company in September 2009. Prior to join...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth certain information as of December 4, 2009 (the “Table Date”) with respect to the beneficial ownership...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the Table Date, 905,348,545 shares of the Company’s common stock were issued and outstanding. Unless otherwise indicated, all persons named as beneficial owners of the Company’s common stock have...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Millard S. Drexler 130,000 (5) Scott Forstall 7,399 (6) Albert A. Gore, Jr. 90,000 (7) Andrea Jung 20,077 (8) Arthur D. Levinson, Ph.D. 385,015 (9) Robert Mansfield 70,288 (10) Pete...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. days thereafter. This does not include options or RSUs that vest more than sixty days after the Table Date. RSUs are awards granted by the Company and payable, subject to vesting requirements, in sh...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company’s common stock that Mr. Drexler holds indirectly through a trust and 90,000 shares of the Company’s common stock that Mr. Drexler has the right to acquire by exercise of stock options. (6) ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to acquire by exercise of stock options. (9) Includes 2,000 shares of the Company’s common stock held by Dr. Levinson’s spouse and 130,000 shares of the Company’s common stock that Dr. Levinson ha...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. stock that Mr. York has the right to acquire by exercise of stock options. (13) Includes 643,687 shares of the Company’s common stock that executive officers and directors have the right to acquir...
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. Officers, directors and greater than ten percent shareholders also are required by rules promulgated by the SEC to furnish the Company with copies of all Section 16(a) forms they file....
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Rafael on January 9, 2009 with respect to the acquisition of 15,000 RSUs on October 12, 2008. REVIEW, APPROVAL OR RATIFICATION OF TRANSACTIONS WITH RELATED PERSONS The Board has adopted a written ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ify those transactions. In doing so, the Audit Committee takes into account, among other factors it deems appropriate: The related person’s interest in the transaction; The approximate dollar value...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the context of the proposed transaction that would be material to investors in light of the circumstances of the particular transaction. In addition, the Audit Committee has delegated authority to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the SEC; Any transaction with another company at which a related person’s only relationship is as an employee (other than an executive officer or director) or beneficial owner of less than ten perc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the ownership of the Company’s common stock and all holders of the Company’s common stock received the same benefit on a pro rata basis, such as dividends. A summary of new transactions covered by ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2007, respectively. Apple Inc. enters into commercial dealings with Disney, Genentech, Google Inc. (“Google”) and Avon that it considers arms-length, including sales arrangements; in the case of Go...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. son was also a director of Google until October 12, 2009. Ms. Jung is Chairman and Chief Executive Officer of Avon. Apple Inc. does not believe that any of Mr. Jobs, Ms. Jung or Drs. Levinson or Schm...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Chief Executive Officer. In his new position, Mr. Fadell is no longer an executive officer of the Company. Mr. Fadell and the Company have entered into a Transition Agreement and a Settlement Agreem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. role, the Compensation Committee granted Mr. Fadell 77,500 RSUs that will vest in full on March 24, 2010, subject to his continued employment with the Company through the vesting date and further su...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. bonus was $43,750, and she participated in the Company’s equity award and benefit programs. Her compensation was commensurate with that of her peers. 18 EXECUTIVE COMPENSATION Compensation Commit...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. each of whom the Board has determined is independent under the applicable NASDAQ and SEC rules. The Compensation Committee has certain duties and powers as described in its written charter adopted b...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Gore, Jr. Andrea Jung Compensation Discussion and Analysis This section explains the Company’s executive compensation program as it relates to the following “named executive officers” whose comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. markets. Apple Inc. seeks to accomplish this goal in a way that is aligned with the long-term interests of the Company’s shareholders. The Compensation Committee oversees the executive compensation ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2009 was 40.1%, up from 35.2% in the prior year. Apple Inc.’s strong earnings and operational excellence helped drive a cash balance at the end of 2009 of $34 billion, an increase of $9.5 billion ov...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. has been an employee of the Company for at least 10 years and none has an employment agreement or severance arrangement. Apple Inc. believes the executive compensation program has served the Compan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the long-term interests of the Company’s shareholders. In general, the Company’s RSU awards to the named executive officers, other than Mr. Jobs, have been made every two years and no shares vest pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. bonus program for the named executive officers remained the same in 2009 as in 2008, with target bonuses set at 50% of base salary and maximum bonuses set at 100% of base salary. As noted below, the...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company uses such measurements to evaluate management performance and determine appropriate levels of compensation. The Compensation Committee set performance goals for the bonus program based on t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. financial results and the competitive environment. This was the first salary increase for the named executive officers since 2006, other than increases for Mr. Mansfield and Mr. Forstall before they...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to attract and retain a talented, entrepreneurial and creative team of executives who will provide leadership for the Company’s success in dynamic, competitive markets. Apple Inc. seeks to accomplis...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. s his interests with those of the Company’s shareholders. From time to time, the Compensation Committee considers additional compensation arrangements for Mr. Jobs given his continuing contributions ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. rather than merely achieve specific objectives within that officer’s area of responsibility. Because of this team-based approach, the Company carefully considers the relative compensation levels amo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. commitment to the Company. An RSU award vests only if the named executive officer continues to provide services to the Company until the specified vesting date. To help promote retention, the Compan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Judgment of the Compensation Committee. The Compensation Committee determines all compensation for the named executive officers. All four Compensation Committee members are independent directors und...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. executive officer has any input into executive compensation decisions. 21 As described below, the Compensation Committee also retains an independent compensation consultant to conduct a comparativ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. conditions, accounting requirements and tax laws, and evolving governance trends. As a result, the Compensation Committee’s discretion and judgment are critical to designing an executive compensatio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Employee Stock Purchase Plan, 401(k) Plan, and other employee recognition programs on the same basis as other employees. As noted above, in light of Mr. Jobs’s significant equity holdings in the Co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. other than Mr. Jobs, represented approximately 89% of the officers’ target total compensation. This compares to approximately 74% at peer companies. RSUs Deliver More Value With Fewer Shares. Apple...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. same grant-date award value as a stock option covering a greater number of shares. Long Vesting Periods Maximize Retention and Support Long-Term Focus. Apple Inc. believes granting awards with long...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Compensation Committee. Based on this approach, Mr. Cook and Mr. Oppenheimer each received RSU awards in 2006 and 2008 (but not in 2007 or 2009), and each award provided for 100% vesting on a date t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ards received by incumbent members of the executive team in 2006. Determining Frequency and Size of RSU Awards. The named executive officers typically receive RSU awards every two years, rather than...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , responsibility and business impact of the officer’s position; and The perceived retention value of the total compensation package. Once the target value has been established, 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. bonus awards and base salaries. Performance-Based Cash Bonus Awards. The 2003 Plan, which has been approved by the Company’s shareholders, authorizes the Compensation Committee to issue performance...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. emphasize long-term shareholder value creation over annual operating results. Accordingly, the plan is modestly funded relative to peer companies, as reflected by the following: 23 Mr. Jobs does n...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Compensation Committee changed the performance criteria used in the Company’s bonus program from revenue and operating income prepared in accordance with US GAAP to adjusted sales and adjusted o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Performance Criteria Target Goal Maximum Goal Actual Performance Adjusted Sales 36.350 37.975 42.850 Adjusted Operating Income 6.710 7.305 11.903 Payout Structure. The payout structure is...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. as Performance-Based Cash Bonus Award Performance Criteria Target Goal Maximum Goal Actual Performance Adjusted Sales 25 50 50 Adjusted Operating Income 25 50 50 Total Payout 100 At th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Jobs who does not participate in the bonus program, performance-based cash awards equal to 100% of their base salaries. Base Salaries. The Compensation Committee determines base salaries for each ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Agreements or Other Arrangements The named executive officers are employed at will. Based on the Company’s philosophy, the compensation program for the named executive officers, including Mr. Jobs,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. executive compensation consulting firm. F.W. Cook only provides compensation consulting services to the Compensation Committee, and works with the Company’s management only on matters for which the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. publicly traded companies that, in its view, compete with the Company for talent, have revenue, market capitalization, and performance that are generally comparable to the Company, and are in one of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Cisco Systems, Inc. Hewlett-Packard Company Texas Instruments Incorporated Comcast Corporation Intel Corporation Time Warner Inc. Dell Inc. International Business Machines Corporation Verizon...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. can result in compensation that is unrelated to the value delivered by the named executive officers. 25 Tax Deductibility of Compensation Expense. Section 162(m) of the Internal Revenue Code place...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. looks at other factors in making its decisions as noted above and retains the flexibility to grant awards it determines to be consistent with the Company’s goal for its executive compensation progra...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. not encourage risk taking. While the performance-based cash bonus awards focus on achievement of short-term or annual goals, and short-term goals may encourage the taking of short-term risks at the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. taking since the ultimate value of the awards is tied to the Company’s stock price, and since awards are staggered and subject to long-term vesting schedules to help ensure that executives have sign...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. first salary increase for the named executive officers since 2006 other than increases for Mr. Mansfield and Mr. Forstall before they became members of the executive team in 2008. In deciding to in...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. consideration the Company’s team-based approach and the scope of the executive’s role and responsibilities relative to other members of the executive team. After giving effect to these increases, th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Performance-Based Cash Bonus Awards Apple Inc.’s 2009 performance exceeded the maximum goals for adjusted sales and adjusted operating income established by the Compensation Committee for the bonu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,000 27 Summary Compensation Table—2009, 2008 and 2007 The following table presents information regarding compensation of each of the named executive officers for services rendered during 2009, 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Cook 2009 800,400 12,359,723 800,000 40,917 (3) 14,001,040 Chief Operating Officer 2008 718,860 5,984,384 700,000 20,450 7,423,694 2007 700,014 6,943,426 700,000 13,750 8,357,190...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 369,447 2007 600,012 4,946,610 600,000 598,723 6,745,345 Robert Mansfield 2009 600,396 12,239,549 537,872 600,000 18,772 (5) 13,996,589 Senior Vice President, Mac Hardware Engineering...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Platform Experience (1) The amounts reported in Column (e) and Column (f) of the table above reflect the aggregate dollar amounts that were recognized for stock awards and option awards, respectiv...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. contained in Part II, Item 8, “Financial Statements and Supplementary Data” of the Annual Report in Notes to Consolidated Financial Statements at Note 7, “Shareholders’ Equity and Stock-Based Compen...
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. Cook’s account under its 401(k) plan in the amount of $14,700; (ii) Company-paid term life insurance premiums in the amount of $1,601; and (iii) a payment of $24,6...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in the amount of $14,700 and (ii) Company-paid term life insurance premiums in the amount of $4,072. (6) This amount represents (i) the Company’s contributions to Mr. Forstall’s account under its ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. named executive officer’s total compensation reported in the table are base salary, an annual bonus, and long-term equity awards consisting of RSUs and, in the case of Mr. Mansfield and Mr. Forstall...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ” should be read in conjunction with the tables and narrative descriptions that follow. The table entitled “Grants of Plan-Based Awards—2009” and the accompanying description provide information rega...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in 2009. The named executive officers typically receive RSU awards approximately every two years, rather than every year. Estimated Future PayoutsUnder Non-EquityIncentive Plan Awards Estimated Fu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ($)(d) Maximum($)(e) Threshold(#)(f) Target(#)(g) Maximum(#)(h) Steven P. Jobs Timothy D. Cook 400,000 800,000 Peter Oppenheimer 350,000 700,000 Robert Mansfield 300,000 600,000 Scott ...