0000320193-23-000088.txt : 20231003 0000320193-23-000088.hdr.sgml : 20231003 20231003210235 ACCESSION NUMBER: 0000320193-23-000088 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231001 FILED AS OF DATE: 20231003 DATE AS OF CHANGE: 20231003 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Adams Katherine L. CENTRAL INDEX KEY: 0001462356 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36743 FILM NUMBER: 231306386 MAIL ADDRESS: STREET 1: APPLE INC. STREET 2: 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: 0930 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 wk-form4_1696381345.xml FORM 4 X0508 4 2023-10-01 0 0000320193 Apple Inc. AAPL 0001462356 Adams Katherine L. ONE APPLE PARK WAY CUPERTINO CA 95014 0 1 0 0 SVP, GC and Secretary 0 Common Stock 2023-10-01 4 M 0 136268 A 552982 D Common Stock 2023-10-01 4 F 0 70732 171.21 D 482250 D Common Stock 2023-10-03 4 S 0 25850 171.62 D 456400 D Common Stock 2023-10-03 4 S 0 32886 172.23 D 423514 D Common Stock 2023-10-03 4 S 0 6800 173.24 D 416714 D Restricted Stock Unit 2023-10-01 4 M 0 136268 D Common Stock 136268 0 D Restricted Stock Unit 2023-10-01 4 A 0 58408 0 A Common Stock 58408 58408 D Restricted Stock Unit 2023-10-01 4 A 0 58408 0 A Common Stock 58408 58408 D 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. 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 November 28, 2022. This transaction was executed in multiple trades at prices ranging from $170.92 to $171.91; 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 $171.92 to $172.91; 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 $172.94 to $173.62; 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 27, 2020, for a target number of 89,064 RSUs. The award vested on October 1, 2023, 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 2021 and ending with the last day of Apple's fiscal year 2023. 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 $116.95. 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 $180.20. 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 54.09%, which ranked 141of the 480 companies that were included in the S&P 500 for the performance period and placed Apple in the 70.77th percentile. Therefore, 136,268 RSUs subject to performance requirements vested. These restricted stock units are scheduled to vest as to one-third of the units on each of April 1, 2026, April 1, 2027, and April 1, 2028, subject to the terms and conditions of the underlying award agreements. These performance-based restricted stock units are scheduled to vest on October 1, 2026, subject to the terms and conditions of the underlying award agreements. The "target" number of restricted stock units is reported. Between 0% and 200% of the target number of units may vest based on Apple's relative total shareholder return from the first day of Apple's fiscal year 2024 and ending with the last day of Apple's fiscal year 2026. /s/ Sam Whittington, Attorney-in-Fact for Katherine L. Adams 2023-10-03