0000320193-20-000084.txt : 20201005 0000320193-20-000084.hdr.sgml : 20201005 20201005183356 ACCESSION NUMBER: 0000320193-20-000084 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20201001 FILED AS OF DATE: 20201005 DATE AS OF CHANGE: 20201005 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WILLIAMS JEFFREY E CENTRAL INDEX KEY: 0001496686 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36743 FILM NUMBER: 201224947 MAIL ADDRESS: STREET 1: ONE INFINITE LOOP CITY: CUPERTINO STATE: CA ZIP: 95014 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Apple Inc. CENTRAL INDEX KEY: 0000320193 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 942404110 STATE OF INCORPORATION: CA FISCAL YEAR END: 0926 BUSINESS ADDRESS: STREET 1: ONE APPLE PARK WAY CITY: CUPERTINO STATE: CA ZIP: 95014 BUSINESS PHONE: (408) 996-1010 MAIL ADDRESS: STREET 1: ONE APPLE PARK WAY CITY: CUPERTINO STATE: CA ZIP: 95014 FORMER COMPANY: FORMER CONFORMED NAME: APPLE INC DATE OF NAME CHANGE: 20070109 FORMER COMPANY: FORMER CONFORMED NAME: APPLE COMPUTER INC DATE OF NAME CHANGE: 19970808 4 1 wf-form4_160193720275669.xml FORM 4 X0306 4 2020-10-01 0 0000320193 Apple Inc. AAPL 0001496686 WILLIAMS JEFFREY E ONE APPLE PARK WAY CUPERTINO CA 95014 0 1 0 0 COO Common Stock 2020-10-01 4 M 0 519080 A 1008340 D Common Stock 2020-10-01 4 F 0 261737 116.79 D 746603 D Common Stock 2020-10-02 4 S 0 228957 113.52 D 517646 D Common Stock 2020-10-02 4 S 0 28386 114.19 D 489260 D Restricted Stock Unit 2020-10-01 4 M 0 519080 D Common Stock 519080.0 0 D Each restricted stock unit ("RSU") represented 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. Adjusted to reflect Apple's 4-for-1 stock split (the "stock split"), effective on August 28, 2020. The shares are held through Mr. Williams' living trust. Shares withheld by Apple to satisfy the 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 February 18, 2019. This transaction was executed in multiple trades at prices ranging from $113.02 to $114.005; 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 $114.03 to $114.41; 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 October 1, 2017, for a target number of 259,540 RSUs, as adjusted to reflect the stock split. The award vested on October 1, 2020, 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 for the three-year performance period of October 1, 2017 through September 26, 2020. 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 $39.20, as adjusted to reflect the stock split. Similarly, the ending value used for calculating TSR is the average closing price for the 20 trading days ending on September 26, 2020. Apple's ending value was calculated to be $121.12 (adjusted for dividends). 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 208.96%, which ranked 4 of the 472 companies that were included in the S&P 500 for the period and placed Apple in the 99th percentile. Therefore, 519,080 RSUs subject to performance requirements vested, as adjusted to reflect the stock split. /s/ Sam Whittington, Attorney-in-Fact for Jeffrey E. Williams 2020-10-05