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Apple Inc. — Director's Dealing 2014
Aug 26, 2014
29735_dirs_2014-08-26_c1fe063b-3f9e-4338-a599-1980d07ac142.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: APPLE INC (AAPL)
CIK: 0000320193
Period of Report: 2014-08-24
Reporting Person: COOK TIMOTHY D (Director, Chief Executive Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2014-08-24 | Common Stock | M | 560000 | — | Acquired | 1171601 | Direct |
| 2014-08-24 | Common Stock | F | 290834 | $101.32 | Disposed | 880767 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2014-08-24 | Restricted Stock Unit | $ | M | 560000 | Disposed | Common Stock (560000) | Direct |
Footnotes
F1: Each restricted stock unit represents the right to receive, at settlement, one share of common stock. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date. Apple's total shareholder return for the August 25, 2013 through August 24, 2014 performance period was 46.03%, which ranked 44th of the 480 companies that were included in the S&P 500 for the entire period (91st percentile). Therefore, all 280,000 of the restricted stock units subject to performance requirements vested.
F2: The number of securities reported reflects a 7-for-1 stock split effective June 6, 2014, and the acquisition on July 31, 2014 of four shares of Apple Inc.'s common stock pursuant to the Apple Inc. Amended Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of February 1, 2014 through July 31, 2014.
F3: These shares are held through Mr. Cook's trust.
F4: 290,834 shares (51.9% of the total number of shares) were withheld by Apple to satisfy the minimum statutory tax withholding requirements on vesting of restricted stock units. NO SHARES WERE SOLD. In addition, because Mr. Cook's marginal tax rate in California is higher than the minimum statutory tax withholding rate, he is submitting a tax payment in addition to the withholding applied by Apple.
F5: The remaining 5,320,000 restricted stock units in this award are scheduled to vest as follows: 700,000 restricted stock units vest on August 24, 2016; 700,000 restricted stock units vest on August 24, 2021; the balance of 3,920,000 restricted stock units vests in seven equal annual installments commencing August 24, 2015, assuming continued employment through the applicable vesting date and, with respect to a portion of each annual installment, satisfaction of the applicable performance requirements.