Filing Details
- Accession Number:
- 0000320193-21-000073
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2021-08-26 18:30:46
- Reporting Period:
- 2021-08-24
- Accepted Time:
- 2021-08-26 18:30:46
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 320193 | Apple Inc. | AAPL | Electronic Computers (3571) | 942404110 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1214156 | D Timothy Cook | One Apple Park Way Cupertino CA 95014 | Chief Executive Officer | Yes | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2021-08-24 | 5,040,000 | $0.00 | 8,319,726 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2021-08-24 | 2,653,560 | $149.62 | 5,666,166 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2021-08-25 | 1,820,655 | $148.30 | 3,845,511 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2021-08-25 | 475,724 | $149.37 | 3,369,787 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2021-08-25 | 90,061 | $149.97 | 3,279,726 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Direct | |
| No | 4 | S | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Unit | Disposition | 2021-08-24 | 5,040,000 | $0.00 | 5,040,000 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | No | 4 | M | Direct |
Footnotes
- This award was granted on August 24, 2011 and all remaining restricted stock units (RSUs) subject to the award vested on August 24, 2021. The number of RSUs includes 3,920,000 time-based RSUs and 1,120,000 performance-based RSUs.
- The number of performance-based RSUs that vested was determined based on Apple's total shareholder return (TSR), relative to the other companies in the S&P 500 over a three-year period from August 25, 2018 through August 24, 2021. TSR is calculated based on the change in a company's stock price during the three-year period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock. In accordance with the terms of the award, the beginning value used for calculating TSR is the average closing stock price for the 20 trading days prior to August 25, 2018. Apple's beginning value was calculated to be $52.28 (adjusted for dividends). Similarly, the ending value used for calculating TSR is the average closing price for the 20 trading days ending on August 24, 2021. Apple's ending value was calculated to be $152.56 (adjusted for dividends).
- Mr. Cook's award provides that if Apple's relative TSR performance is within the top third of the companies that remain in the S&P 500 for the entire performance period, the 1,120,000 performance-based RSUs vest in full. If Apple's performance is in the middle third, the RSUs will be reduced by 50%, and if Apple's performance is in the bottom third, the RSUs will be reduced to zero. Apple needed to achieve a TSR of at least 72.26% to outperform the middle third of the companies in the S&P 500 for the performance period, and at least 24.94% to outperform the bottom third of the companies. Apple's TSR for the three-year period was 191.83%, which ranked 13th of the 442 companies that were included in the S&P 500 for the entire period and placed Apple in the 97th percentile. Therefore, all 1,120,000 of the RSUs subject to performance requirements vested.
- Each RSU represents the right to receive, at settlement, one share of common stock. This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date.
- These shares are held through Mr. Cook's trust.
- 2,653,560 shares (52.65% of the total number of shares released) were withheld by Apple to satisfy tax withholding requirements on vesting of RSUs.
- This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person's trust on August 31, 2020.
- This transaction was executed in multiple trades at prices ranging from $147.805 to $148.8025; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, Apple, or a security holder of Apple.
- This transaction was executed in multiple trades at prices ranging from $148.805 to $149.80; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, Apple, or a security holder of Apple.
- This transaction was executed in multiple trades at prices ranging from $149.805 to $150.32; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, Apple, or a security holder of Apple.
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