Summary
This Form 8-K filing by Apple Inc. reports a change in its Board of Directors. Specifically, Susan L. Wagner was appointed to the Board, effective July 15, 2014. This appointment coincides with the retirement of William V. Campbell from the Board. Mr. Campbell was a member of both the Audit and Finance Committee and the Nominating and Corporate Governance Committee. Ms. Wagner's appointment is significant for investors as it reflects ongoing governance adjustments within the company. As a non-employee director, she will receive an annual retainer and is eligible for grants under Apple's Director Stock Plan, including an initial award of 1,646 restricted stock units. The filing also confirms that there are no reportable related-party transactions between Ms. Wagner and Apple, and it outlines the standard indemnification agreement for directors.
Key Highlights
- 1Susan L. Wagner appointed to Apple's Board of Directors.
- 2William V. Campbell retired from the Board of Directors.
- 3Ms. Wagner's appointment took effect on July 15, 2014.
- 4Mr. Campbell served on the Audit and Finance Committee and the Nominating and Corporate Governance Committee.
- 5Ms. Wagner receives a $50,000 annual retainer as a non-employee director.
- 6Ms. Wagner received an initial grant of 1,646 restricted stock units under the Director Plan.
- 7No related-party transactions between Ms. Wagner and Apple require disclosure.