0000320193-22-000096.txt : 20221004 0000320193-22-000096.hdr.sgml : 20221004 20221004215757 ACCESSION NUMBER: 0000320193-22-000096 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20221001 FILED AS OF DATE: 20221004 DATE AS OF CHANGE: 20221004 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: 221294401 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: 0924 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_166493485929155.xml FORM 4 X0306 4 2022-10-01 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 2022-10-01 4 M 0 365600 A 476273 D Common Stock 2022-10-01 4 F 0 189301 138.20 D 286972 D Restricted Stock Unit 2022-10-01 4 M 0 365600 D Common Stock 365600.0 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 29, 2019, for a target number of 182,800 RSUs. The award vested on October 1, 2022, 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 29, 2019 through September 24, 2022. 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, adjusted to reflect Apple's 4-for-1 stock split, effective on August 28, 2020, was calculated to be $58.14. 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 $159.50. 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 174.34%, which ranked 10 of the 478 companies that were included in the S&P 500 for the period and placed Apple in the 98th percentile. Therefore, 365,600 RSUs subject to performance requirements vested. /s/ Sam Whittington, Attorney-in-Fact for Luca Maestri 2022-10-04