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Filing Details

Accession Number:: 0000320193-24-000109
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-10-03 18:30:30
Reporting Period:: 2024-10-01

Accepted Time:: 2024-10-03 18:30:30
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

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2024-10-01	477,301	$0.00	3,757,481	No	4	M	Direct
Common Stock	Disposition	2024-10-01	253,315	$226.21	3,504,166	No	4	F	Direct
Common Stock	Disposition	2024-10-02	109,741	$223.75	3,394,425	No	4	S	Direct
Common Stock	Disposition	2024-10-02	61,912	$224.46	3,332,513	No	4	S	Direct
Common Stock	Disposition	2024-10-02	45,140	$225.86	3,287,373	No	4	S	Direct
Common Stock	Disposition	2024-10-02	7,193	$226.57	3,280,180	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Unit	Disposition	2024-10-01	477,301	$0.00	477,301	$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

Each restricted stock unit ("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.
Shares 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 on May 24, 2024.
This transaction was executed in multiple trades at prices ranging from $223.17 to $224.165; 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 $224.17 to $225.16; 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 $225.17 to $226.15; 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 $226.17 to $226.97; 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 award was granted on September 26, 2021, for a target number of 255,241 RSUs. The award settled on October 1, 2024, applying a percentage of the target number of RSUs that was determined based on Apple's total shareholder return ("TSR") relative to the other companies in the S&P 500 from the first day of Apple's fiscal year 2022 and ending with the last day of Apple's fiscal year 2024
TSR is calculated based on the change in a company's stock price during the performance 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 first 20 trading days of the performance period. Apple's beginning value was calculated to be $143.96. Similarly, the ending value used for calculating TSR is the average closing price for the final 20 trading days of the performance period. Apple's ending value was calculated to be $227.29.
This award provided that if Apple's relative TSR performance was ranked at or above the 85th percentile for companies in the S&P 500 for the performance period, 200% of the target number of RSUs vest. If Apple's performance was ranked at or above the 55th percentile, 100% of the target number of RSUs vest. If Apple's performance was ranked at or above the 25th percentile, 25% of the target number of RSUs vest, and if Apple's performance was ranked below the 25th percentile, 0% of the target number of RSUs vest. If Apple's performance was between these levels, the portion of the RSUs that vest would be determined on a straight-line basis (i.e., linearly interpolated) between the two nearest vesting percentages.
Apple's TSR for the three-year performance period was 57.88%, which ranked 92 of the 485 companies that were included in the S&P 500 for the performance period and placed Apple in the 81.20th percentile. Therefore, 477,301 RSUs subject to performance requirements vested.