Jeffrey E. Williams - 01 Oct 2024 Form 4 Insider Report for Apple Inc. (AAPL)

Reporting relationship: COO
Issuer ticker: AAPL
Reported as of: 01 Oct 2024
Net transaction value: $0
SEC form: 4
Accepted by SEC: 03 Oct 2024, 18:31:01 UTC
Prior SEC filing: 01 Oct 2024
Next SEC filing: 18 Dec 2024
Source filing: View source filing
Reporting owner signature: /s/ Sam Whittington, Attorney-in-Fact for Jeffrey E. Williams

Key filing fact

Jeffrey E. Williams filed Form 4 for Apple Inc. (AAPL) on 03 Oct 2024.

Key facts

This page summarizes Jeffrey E. Williams's Form 4 filing for Apple Inc. (AAPL).
5 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 03 Oct 2024, 18:31.

Change

Previous filing in this sequence was filed on 01 Oct 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001496686 Primary reporting owner

WILLIAMS JEFFREY E

Relationship: COO
Address: ONE APPLE PARK WAY, CUPERTINO
Signature: /s/ Sam Whittington, Attorney-in-Fact for Jeffrey E. Williams
Signature date: 03 Oct 2024

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AAPL transaction

Common Stock

Options Exercise

Transaction value
Shares: +127,282
Change %: +26%
Price
Shares after: 617,226
Date: 01 Oct 2024
Ownership: Direct
Footnotes: F1, F2, F3

AAPL transaction

Common Stock

Tax liability

Transaction value
Shares: -67,552
Change %: -11%
Price: $226.21^*
Shares after: 549,674
Date: 01 Oct 2024
Ownership: Direct
Footnotes: F3, F4

AAPL transaction

Common Stock

Sale

Transaction value
Shares: -51,674
Change %: -9.4%
Price: $226.80^*
Shares after: 498,000
Date: 02 Oct 2024
Ownership: Direct
Footnotes: F3, F5, F6

AAPL transaction

Common Stock

Sale

Transaction value
Shares: -8,056
Change %: -1.6%
Price: $227.22^*
Shares after: 489,944
Date: 02 Oct 2024
Ownership: Direct
Footnotes: F3, F5, F7

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AAPL transaction Derivative

Restricted Stock Unit

Options Exercise

Transaction value
Shares: -127,282
Change %: -100%
Price
Shares after: 0
Date: 01 Oct 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 127,282
Exercise price
Footnotes: F1, F2, F8, F9, F10, F11

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 11 footnotes

Footnote F1

Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock.

Footnote F2

This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date.

Footnote F3

The shares are held through Mr. Williams' living trust.

Footnote F4

Shares withheld by Apple to satisfy tax withholding requirements on vesting of RSUs.

Footnote F5

This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 30, 2023.

Footnote F6

This transaction was executed in multiple trades at prices ranging from $226.11 to $227.105; 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.

Footnote F7

This transaction was executed in multiple trades at prices ranging from $227.11 to $227.315; 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.

Footnote F8

This award was granted on September 26, 2021, for a target number of 68,065 RSUs. The award vested on October 1, 2024, 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 2022 and ending with the last day of Apple's fiscal year 2024.

Footnote F9

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 $143.96. 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 $227.29.

Footnote F10

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.

Footnote F11

Apple's TSR for the three-year performance period was 57.88%, which ranked 92 of the 485 companies that were included in the S&P 500 for the performance period and placed Apple in the 81.20th percentile. Therefore, 127,282 RSUs subject to performance requirements vested.