Form 4: Apple Principal Accounting Officer Chris Kondo Reports Stock Transactions
SEC Form 4 Filing
Apple's Principal Accounting Officer, Chris Kondo, has reported the vesting and tax withholding of restricted stock units, resulting in changes to his beneficial ownership of Apple stock.
Summary
- Chris Kondo, Apple's Principal Accounting Officer, reported transactions involving Apple stock on October 15, 2024.
- These transactions include the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
- A total of 8,115 shares were acquired through the vesting of RSUs.
- 3,985 shares were disposed of to satisfy tax withholding requirements.
- The transactions resulted in a net change in Mr. Kondo's direct ownership of Apple common stock.
- The vesting of RSUs occurred on their scheduled vesting dates, as per the terms of the original grants.
Sentiment
Score: 7
Explanation: The document reflects routine transactions related to employee compensation. It is a neutral event with no significant positive or negative implications for the company's performance.
Industry Context
This is a routine filing related to the vesting of employee stock options and is common for publicly traded companies like Apple. It provides transparency into the stock transactions of key personnel.
Comparison to Industry Standards
- The vesting schedule of 12.5% semi-annually over four years is a common practice for tech companies like Apple, similar to vesting schedules at companies like Microsoft and Google.
- The tax withholding process is standard practice for equity compensation, ensuring compliance with tax regulations, and is similar to practices at other large public companies.
Stakeholder Impact
- The transactions have a minor impact on the total number of outstanding shares of Apple stock.
- The transactions are part of the compensation package for a key employee, which is a standard practice.
Key Dates
| Date | Description |
|---|---|
| 09/27/2020 | Date of grant for one of the restricted stock unit awards. |
| 04/15/2021 | First vesting date for one of the restricted stock unit awards. |
| 09/26/2021 | Date of grant for one of the restricted stock unit awards. |
| 04/15/2022 | First vesting date for one of the restricted stock unit awards. |
| 09/25/2022 | Date of grant for one of the restricted stock unit awards. |
| 04/15/2023 | First vesting date for one of the restricted stock unit awards. |
| 10/01/2023 | Date of grant for one of the restricted stock unit awards. |
| 04/15/2024 | First vesting date for one of the restricted stock unit awards. |
| 10/15/2024 | Date of the reported stock transactions, including vesting and tax withholding. |
| 10/17/2024 | Date of the filing of the SEC Form 4. |
Keywords
stock, restricted stock units, RSU, insider trading, beneficial ownership, Apple, AAPL, Chris Kondo, vesting, tax withholding
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