Every corporate organization that has a standing and reputation in the business world holds a yearly meeting for shareholders to inform them where the company stood last year in the market and where it stands now. Such meetings help shareholders in understanding how valuable the shares that they are holding are and how much profit that they can make.
Apple is going to do that in February.
On Monday, 9 January 2012, Apple filed notice with the Securities Exchange Commission (SEC) that its annual shareholder meeting will be held at 10 AM Pacific on 23 February 2012. The meeting will include four shareholder proposals.
Apple Senior Vice President and General Counsel Bruce Sewell has issued a letter to the company’s shareholders inviting them to the meeting. The meeting will be held at its headquarters in Cupertino, California. Only shareholders of record as of 27 December 2011 will be eligible to attend and vote at the meeting.
The agenda for the annual meeting this year includes: the election of Apple’s board of directors and ratification of Ernst & Young as its independent registered public accounting firm for the year. Last agenda of this meeting is an advisory vote on executive compensation and consideration of four shareholder proposals.
Coincidentally, last year’s meeting was also held on 23 February 2012.
Apple’s board of directors underwent several changes last year after the sad demise of co-founder Steve Jobs in October. Jobs had been named chairman following his resignation as Apple’s chief executive last August. At that time, newly-minted Chief Executive Tim Cook was also named to the board.
In November 2011, Arthur Levinson was named chairman and Disney CEO Robert Iger was appointed to the board. The remaining board members include William Campbell, Millard Drexler, Al Gore, Andrea Jung and Ronald Sugar.
Apple’s filing with the SEC noted that the one million restricted shares granted to Cook to ensure his long-term tenure at the company were valued at a total $376.18 million. Half of the award will vest in 2016 and the remaining half will vest in 2021.
This meeting will also discuss some proposals from shareholders.
Source: Apple Insider