Form 4 for AAPL Apple Inc.
Accepted 2023-10-03 21:04:27 ET · period of report 2023-10-01 · accession 0000320193-23-000089 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-10-03 21:04 | 2023-10-01 | AAPL | COOK TIMOTHY D | CEO, Dir | M - OptEx | — | +511.0K | 3.79M | +16% | — |
| D | 2023-10-03 21:04 | 2023-10-01 | AAPL | COOK TIMOTHY D | CEO, Dir | F - Tax | $171.21 | -270.4K | 3.52M | -7% | -$46.30M |
| DM | 2023-10-03 21:04 | 2023-10-03 | AAPL | COOK TIMOTHY D | CEO, Dir | S - Sale+OE | $172.50 | -240.6K | 3.28M | -7% | -$41.50M |
| D | 2023-10-03 21:04 | 2023-10-01 | AAPL | COOK TIMOTHY D | CEO, Dir | M - OptEx | — | -511.0K | 0 | -100% | — |
| DM | 2023-10-03 21:04 | 2023-10-01 | AAPL | COOK TIMOTHY D | CEO, Dir | A - Grant | $0.00 | +292.0K | 219.0K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-10-01 | M | A | 511,000 | — | 3,791,053 | D | — | — | (F1) Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. (F2) This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date. (F3) These shares are held through Mr. Cook's trust. (F4) The number of securities reported reflects the acquisition on July 31, 2023 of 1 share of Apple Inc.'s common stock pursuant to the Apple Inc. Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of February 1, 2023 through July 31, 2023. |
| 2 | Common | Common Stock | 2023-10-01 | F | D | 270,431 | $171.21 | 3,520,622 | D | — | — | (F5) Shares withheld by Apple to satisfy tax withholding requirements on settlement of restricted stock units. (F3) These shares are held through Mr. Cook's trust. |
| 3 | Common | Common Stock | 2023-10-03 | S | D | 55,664 | $171.42 | 3,464,958 | D | — | — | (F6) This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2022. (F7) This transaction was executed in multiple trades at prices ranging from $170.87 to $171.86; 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. (F3) These shares are held through Mr. Cook's trust. |
| 4 | Common | Common Stock | 2023-10-03 | S | D | 99,223 | $172.52 | 3,365,735 | D | — | — | (F6) This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2022. (F8) This transaction was executed in multiple trades at prices ranging from $171.87 to $172.865; 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. (F3) These shares are held through Mr. Cook's trust. |
| 5 | Common | Common Stock | 2023-10-03 | S | D | 85,682 | $173.18 | 3,280,053 | D | — | — | (F6) This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2022. (F9) This transaction was executed in multiple trades at prices ranging from $172.87 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. (F3) These shares are held through Mr. Cook's trust. |
| 6 | Derivative | Restricted Stock Unit | 2023-10-01 | M | D | 511,000 | — | 0 | D | — · — to — | 511,000 Common Stock | (F1) Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. (F2) This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date. (F1) Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. (F2) This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date. (F10) This award was granted on September 27, 2020, for a target number of 333,987 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. (F11) 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. (F12) 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. (F13) Apple's TSR for the three-year performance period was 54.09%, which ranked 141 of the 480 companies that were included in the S&P 500 for the performance period and placed Apple in the 70.77th percentile. Therefore, 511,000 RSUs subject to performance requirements vested. (F10) This award was granted on September 27, 2020, for a target number of 333,987 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. (F11) 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. (F12) 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. (F13) Apple's TSR for the three-year performance period was 54.09%, which ranked 141 of the 480 companies that were included in the S&P 500 for the performance period and placed Apple in the 70.77th percentile. Therefore, 511,000 RSUs subject to performance requirements vested. |
| 7 | Derivative | Restricted Stock Unit | 2023-10-01 | A | A | 73,010 | $0.00 | 73,010 | D | — · — to — | 73,010 Common Stock | (F1) Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. (F14) These restricted stock units are scheduled to settle 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. (F14) These restricted stock units are scheduled to settle 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. |
| 8 | Derivative | Restricted Stock Unit | 2023-10-01 | A | A | 219,030 | $0.00 | 219,030 | D | — · — to — | 219,030 Common Stock | (F1) Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. (F15) 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. (F15) 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. |