0000320193-21-000090.txt : 20211005
0000320193-21-000090.hdr.sgml : 20211005
20211005183211
ACCESSION NUMBER: 0000320193-21-000090
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20211001
FILED AS OF DATE: 20211005
DATE AS OF CHANGE: 20211005
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Maestri Luca
CENTRAL INDEX KEY: 0001513362
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36743
FILM NUMBER: 211308161
MAIL ADDRESS:
STREET 1: 1 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: 0925
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_163347311336788.xml
FORM 4
X0306
4
2021-10-01
0
0000320193
Apple Inc.
AAPL
0001513362
Maestri Luca
ONE APPLE PARK WAY
CUPERTINO
CA
95014
0
1
0
0
Senior Vice President, CFO
Common Stock
2021-10-01
4
M
0
354392
A
464893
D
Common Stock
2021-10-01
4
F
0
188563
142.65
D
276330
D
Restricted Stock Unit
2021-10-01
4
M
0
354392
D
Common Stock
354392.0
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.
Shares withheld by Apple to satisfy tax withholding requirements on vesting of RSUs. No shares were sold.
This award was granted on September 30, 2018, for a target number of 177,196 RSUs. The award vested on October 1, 2021, 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 September 30, 2018 through September 25, 2021.
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 $55.44. Similarly, the ending value used for calculating TSR is the average closing price for the 20 trading days ending on September 25, 2021. Apple's ending value was calculated to be $154.65.
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 178.96%, which ranked 21 of the 472 companies that were included in the S&P 500 for the period and placed Apple in the 96th percentile. Therefore, 354,392 RSUs subject to performance requirements vested.
/s/ Sam Whittington, Attorney-in-Fact for Luca Maestri
2021-10-05