Apple Inc. Files DEF 14A with Executive Compensation Details

Ticker: AAPL · Form: DEF 14A · Filed: Jan 11, 2024 · CIK: 320193

Apple Inc. DEF 14A Filing Summary
FieldDetail
CompanyApple Inc. (AAPL)
Form TypeDEF 14A
Filed DateJan 11, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$50 million, $6, $49 m
Sentimentneutral

Complexity: moderate

Sentiment: neutral

Topics: Apple Inc., DEF 14A, Executive Compensation, Stock Awards, Tim Cook

TL;DR

<b>Apple Inc. files its DEF 14A, detailing executive compensation and stock awards for fiscal years 2021-2023.</b>

AI Summary

Apple Inc. (AAPL) filed a Proxy Statement (DEF 14A) with the SEC on January 11, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Apple Inc. Reporting period covers fiscal years ending September 28, 2023, September 24, 2022, and September 25, 2021. Includes details on executive compensation, specifically stock awards for CEO Tim Cook and other NEOs. Data points include grant date fair value of stock awards and changes in fair value of outstanding awards. The filing is from January 11, 2024.

Why It Matters

For investors and stakeholders tracking Apple Inc., this filing contains several important signals. This filing provides crucial insights into how Apple Inc. compensates its top executives, particularly through stock-based awards, which can significantly impact shareholder value and executive motivation. Understanding the executive compensation structure, including the fair value of granted and unvested awards, is essential for investors to assess alignment between management and shareholder interests.

Risk Assessment

Risk Level: low — Apple Inc. shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate financial or operational risks indicated.

Analyst Insight

Review the executive compensation tables to understand the stock award values granted to key executives like Tim Cook and assess potential dilution or alignment with company performance.

Executive Compensation

NameTitleTotal Compensation
Tim CookCEO

Key Numbers

  • 2024-01-11 — Filing Date (DEF 14A filing date)
  • 2023-09-30 — Fiscal Year End (Most recent fiscal year end reported)
  • 2022-09-24 — Fiscal Year End (Previous fiscal year end reported)
  • 2021-09-25 — Fiscal Year End (Fiscal year end prior to that)

Key Players & Entities

  • Apple Inc. (company) — Filer
  • Tim Cook (person) — CEO and Member of the Board
  • DEF 14A (filing) — Form Type
  • 2024-01-11 (date) — Filing Date
  • 2023-09-30 (date) — Fiscal Year End
  • 2022-09-24 (date) — Fiscal Year End
  • 2021-09-25 (date) — Fiscal Year End

FAQ

When did Apple Inc. file this DEF 14A?

Apple Inc. filed this Proxy Statement (DEF 14A) with the SEC on January 11, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Apple Inc. (AAPL).

Where can I read the original DEF 14A filing from Apple Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Apple Inc..

What are the key takeaways from Apple Inc.'s DEF 14A?

Apple Inc. filed this DEF 14A on January 11, 2024. Key takeaways: Filing is a Definitive Proxy Statement (DEF 14A) for Apple Inc.. Reporting period covers fiscal years ending September 28, 2023, September 24, 2022, and September 25, 2021.. Includes details on executive compensation, specifically stock awards for CEO Tim Cook and other NEOs..

Is Apple Inc. a risky investment based on this filing?

Based on this DEF 14A, Apple Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate financial or operational risks indicated.

What should investors do after reading Apple Inc.'s DEF 14A?

Review the executive compensation tables to understand the stock award values granted to key executives like Tim Cook and assess potential dilution or alignment with company performance. The overall sentiment from this filing is neutral.

Risk Factors

  • Proxy Statement Disclosure Requirements [low — regulatory]: The company must comply with SEC regulations for disclosing executive compensation and other corporate governance matters in its DEF 14A filing.
  • Stock-Based Compensation Impact [medium — financial]: The fair value of stock awards granted to executives can impact the company's financial statements through stock-based compensation expense.

Key Dates

  • 2024-01-11: Filing Date — Submission of the DEF 14A proxy statement.
  • 2023-09-30: Fiscal Year End — End of the most recent fiscal year for which data is presented.

Glossary

DEF 14A
Definitive Proxy Statement (This form is used by public companies to solicit proxies from shareholders and provides detailed information on executive compensation, board of directors, and other corporate governance matters.)
Stock Awards
Awards of company stock granted to employees, often as part of their compensation package. (Key component of executive compensation at Apple, influencing motivation and shareholder alignment.)

Filing Stats: 4,405 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-01-11 16:30:29

Key Financial Figures

  • $50 million — upplier employees through an additional $50 million commitment to our Supplier Employee Dev
  • $6 — Achieved diluted earnings per share of $6.13, an all-time record Reached all-tim
  • $49 m — ok's 2023 target total compensation was $49 million, a reduction of over 40% from his

Filing Documents

Executive Compensation

Executive Compensation 13 Nominees to Apple's Board of Directors 14 Shareholder Engagement 15 Voting Matters and Vote Recommendations 16 Corporate Governance 19 Our Corporate Governance Framework 20 Role of the Board of Directors 21 Board Independence 21 Board and Committee Structure 21 Board Oversight 23 Board Meetings and Attendance 26 Annual Board and Committee Self-Evaluations 26 Related Party Policy and Transactions 26 Business Conduct Policy 27 Communications with the Board 27 Directors 29 Board Composition and Refreshment 30 Nominees for Election 32 Compensation of Directors 38 Executive Officers 41 Executive Compensation 43 Message from the People and Compensation Committee 45 Compensation Discussion and Analysis 46 People and Compensation Committee Report 61

Executive Compensation Tables

Executive Compensation Tables 62 Management Proposals 73 Proposal No. 1 - Election of Directors 74 Proposal No. 2 - Ratification of Appointment of Independent Registered Public Accounting Firm 75 Proposal No. 3 - Advisory Vote to Approve Executive Compensation 77 Back to Contents Shareholder Proposals 79 Shareholder Proposals 80 Identification of Proponents 82 Vote Required 82 Proposal No. 4 - EEO Policy Risk Report 83 Proposal No. 5 - Report on Ensuring Respect for Civil Liberties 86 Proposal No. 6 - Racial and Gender Pay Gaps 89 Proposal No. 7 - Report on Use of AI 93 Proposal No. 8 - Congruency Report on Privacy and Human Rights 97 Other Matters 100 Other Information 101 Audit and Finance Committee Report 102

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 103 Delinquent Section 16(a) Reports 104 Equity Compensation Plan Information 105 General Information 106 Back to Contents Notice of 2024 Annual Meeting of Shareholders Date and Time Virtual Meeting Site February 28, 2024 www.virtualshareholdermeeting.com/AAPL2024 9:00 A.M. Pacific Time Who Can Vote Shareholders of record at the close of business on January 2, 2024 Items of Business and Board Voting Recommendation 1 Election of Directors: Wanda Austin, Tim Cook, Alex Gorsky, Andrea Jung, Art Levinson, Monica Lozano, Ron Sugar, and Sue Wagner FOR each of the nominees 2 Ratification of Appointment of Independent Registered Public Accounting Firm FOR 3 Advisory Vote to Approve Executive Compensation FOR 4-8 Shareholder Proposals if properly presented AGAINST And other business as may properly come before the Annual Meeting and any postponements or adjournments thereof. Sincerely, Katherine Adams Senior Vice President, General Counsel and Secretary Cupertino, California January 11, 2024 Important notice regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be held on February 28, 2024. The Notice of Meeting, Proxy Statement, and Annual Report on Form 10-K are available free of charge at proxyvote.com and at investor.apple.com . Back to Contents "We believe that business, at its best, serves the public good, empowers people around the world, and binds us together as never before." - Tim Cook, CEO Back to Contents Message from our Chief Executive Officer To our shareholders, Around the world, teams across Apple continue to innovate on behalf of our users — finding new ways for technology to empower people and enrich their lives. And I'm grateful for the confidence our shareholders have shown in supporting our mission. Our annual shareholder meeting is an opportunity to reflect on where we are today, and t

Executive Compensation

Executive Compensation 13 Nominees to Apple's Board of Directors 14 Shareholder Engagement 15 Voting Matters and Vote Recommendations 16 Back to Contents Summary Governance Directors Compensation Proposals Other Information 2024 Proxy Statement 12 2023 Business Highlights Over the course of 2023, we've continued to invest in the future and manage for the long-term. Against an uneven macroeconomic environment, we've adapted continuously to bring our customers groundbreaking innovations and products and services that surprise and delight, while being thoughtful and deliberate on spending. Achievements and Milestones Business Highlights Products and Services Innovation Achieved diluted earnings per share of $6.13, an all-time record Reached all-time revenue record in emerging markets Achieved all-time revenue record in Services Reached an all-time record of over 2 billion total active devices in the installed base, representing all-time records across all products and all geographic segments Grew transacting accounts and paid accounts on our platforms to a new all-time high Expanded our Apple Retail presence with two new Apple stores in India along with new stores in Korea, China, and the United Kingdom Unveiled Apple Vision Pro, our first spatial computer Completed the transition of the Mac to Apple Silicon chips Introduced strongest lineup of products ever, including our all-new iPhone 15 lineup Launched historic 10-year partnership with Major League Soccer Introduced powerful software updates, including MacOS Sonoma and iOS 17 Earned over 400 new nominations and over 90 awards for Apple TV+ and Apple Music content Expanded Emergency SOS via satellite, now available in 16 countries tota l Back to Contents Summary Governance Directors Compensation Proposals Other Information 2024 Proxy Statement 13

Executive Compensation

Executive Compensation Motivating and retaining a talented and experienced leadership team is a key factor of Apple's long-term success. We have a straightforward and effective executive compensation program that incorporates sound policies and best practices and delivers a majority of our named executive officers' compensation through incentives that are aligned with shareholder interests and Company performance. Aligned with Shareholder Interests and Company Performance Annual cash incentive opportunities are capped and have challenging performance goals tied to key measures of overall company performance and profitability. Performance-based RSUs generally vest based on Apple's total shareholder return relative to companies in the S&P 500 over a three year-performance period. Shareholders have an opportunity to cast an advisory say on pay vote each year on the compensation of our named executive officers and indicated strong support for our executive compensation program at the 2023 Annual Meeting, including the 2023 changes to our CEO's compensation, as described below. 2023 CEO Compensation Changes The People and Compensation Committee evaluates our executive compensation program each year. The results of the Say on Pay advisory vote at the 2022 Annual Meeting led to broader shareholder engagement on executive compensation. The People and Compensation Committee balanced shareholder feedback, Apple's exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received. It then approved the target annual compensation of our named executive officers for 2023, including the following changes to CEO compensation, which Mr. Cook supported, and which the People and Compensation Committee believes are responsive to shareholder feedback, while continuing to align pay with performance and recognize Mr. Cook's outstanding leadership and the exceptional long-term results he delivers to shareholders. Target CEO P

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.