April 25, 2024
Apple Investors Reelect Board of Directors, Reject Opposed Proposals

Apple Investors Reelect Board of Directors, Reject Opposed Proposals

Posted March 10, 2023 at 6:11pm by iClarified
Apple investors have reelected the company's Board of Directors, approved the company's compensation plan, and rejected the proposals by shareholders that the company objected to, reports Bloomberg.

A preliminary tally of votes shows that all four measures supported by Apple, including its board and compensation were approved. Additionally, the five measures it asked shareholders to reject did not pass.

The company had sought to stave off investor concerns about compensation in the run-up to the shareholder meeting. Apple said in January that Cook's pay package for 2023 would decline more than 40%, going from over $99 million in 2022 to a target of $49 million this year. The CEO's pay will also be more closely tied to overall company performance. The reduction came after institutional shareholders and advisers criticized his compensation.

Rejected proposals include another audit of Apple's inclusion and diversity efforts, a measure to make Apple report annually on its reliance on China, one about board director engagement with shareholders, the reporting of racial and gender pay gaps at the company, and a bylaw amendment that would call for more shareholder representation on the board.

Notably, calls not to reelect Al Gore and Tim Cook to the Board of Directors did not prevail.

More details in the full report linked below...

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Apple Investors Reelect Board of Directors, Reject Opposed Proposals
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