The meeting is scheduled to take place on February 26 at 9 a.m.Pacific, according to a proxy filed with the U.S. Securities and Exchange Commission on Friday. Registered shareholders, or those who held Apple shares at the close of business on January 2, 2020, are invited to participate in person, but anyone with an interest in the company can vote online via proxyvote.com.
For 2020, the meeting will deal with a total of six proposals regarding the election of directors, the ratification of Ernst and Young as an independent chartered accounting firm and the approval of executive compensation. Three shareholder proposals covering access to powers of attorney, sustainability and remuneration of executives and freedom of expression policies are also put to the vote.
Apple presents board candidates James Bell, Tim Cook, Al Gore, Andrea Jung, Art Levinson, Ron Sugar and Sue Wagner for consideration. Bob Iger, CEO of Disney, resigned from the company’s board of directors last September, before the launch of the Apple TV + and Disney + streaming services. Longtime Apple director Iger later said the tech giant’s interest in entering the entertainment industry puts companies on “conflicting rather than converging” paths.
In 2019, CEO Cook again made the lowest payment among other C-suite executives at $ 11.5 million, including a base salary of $ 3 million. Other executives, including CFO Luca Maestri, General Counsel Kate Adams, Executive Vice-President, Retail and People Deidre O’Brien, COO Jeff Williams, and former COO Angela Ahrendts, a retailer, has raised between $ 19 and $ 25 million in wages, stock subsidies and incentives.
That said, Cook has raised $ 113.5 million in acquired stock units and is expected to make hundreds of millions of dollars if Apple continues to live up to expectations, as it controls 1.26 million unvested share units. valued at $ 275.7 million, as well as 560,000 stock incentive plan awards valued at $ 122.5 million.
Three shareholder proposals are on the roll for 2020, including yet another change in proxy access that seeks a second candidate approved by shareholders on the board. Current regulations regarding Apple proxy access limit access to 20% of administrators in immediate service, rounded to the nearest whole number, which amounts to an administrator. The proposal would change this wording to reflect a figure of 20% “or 2, whichever is greater”.
Apple has received proxy access proposals for six years and in each case, shareholders vote against the proposal on the basis that the existing proxy access method has been found to be effective.
Proposal 5 requests the compensation committee of the board to prepare a report “assessing the feasibility of integrating sustainable development measures into the performance measures, performance objectives or acquisition conditions that could apply to senior executives as part of the Company’s compensation incentive plans ”. While Apple touts efforts in the areas of environmental sustainability and human rights, directly tying specific measures to leaders …