Key facts
- This page summarizes Jeffrey E. Williams's Form 4 filing for Apple Inc. (AAPL).
- 3 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 04 Oct 2022, 21:57.
Jeffrey E. Williams - 01 Oct 2022 Form 4 Insider Report for Apple Inc. (AAPL)
- Reporting relationship
- COO
- Issuer ticker
- AAPL
- Reported as of
- 01 Oct 2022
- Net transaction value
- -$24,581,634
- SEC form
- 4
- Accepted by SEC
- 04 Oct 2022, 21:57:10 UTC
- Prior SEC filing
- 27 Sep 2022
- Next SEC filing
- 24 Mar 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Sam Whittington, Attorney-in-Fact for Jeffrey E. Williams
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Jeffrey E. Williams filed Form 4 for Apple Inc. (AAPL) on 04 Oct 2022.
Change
- Previous filing in this sequence was filed on 27 Sep 2022.
- Current net transaction value: -$24,581,634.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
AAPL
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +365,600
- Change %
- +75%
- Price
- Shares after
- 855,262
- Date
- 01 Oct 2022
- Ownership
- Direct
- Footnotes
- F1, F2
AAPL
transaction
Common Stock
Tax liability
- Transaction value
- $24,581,634
- Shares
- -177,870
- Change %
- -21%
- Price
- $138.20
- Shares after
- 677,392
- Date
- 01 Oct 2022
- Ownership
- Direct
- Footnotes
- F2, F3
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
- -365,600
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 01 Oct 2022
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 365,600
- Exercise price
- Footnotes
- F1, F4, F5, F6, F7
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 7 footnotes
Footnote F1
Each restricted stock unit ("RSU") represented the right to receive, at settlement, one share of common stock. This transaction represents the settlement of RSUs in shares of common stock on their scheduled vesting date.
Footnote F2
The shares are held through Mr. Williams' living trust.
Footnote F3
Shares withheld by Apple to satisfy tax withholding requirements on vesting of RSUs. No shares were sold.
Footnote F4
This award was granted on September 29, 2019, for a target number of 182,800 RSUs. The award vested on October 1, 2022, 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 for the three-year performance period of September 29, 2019 through September 24, 2022.
Footnote F5
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, adjusted to reflect Apple's 4-for-1 stock split, effective on August 28, 2020, was calculated to be $58.14. 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 $159.50.
Footnote F6
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 F7
Apple's TSR for the three-year performance period was 174.34%, which ranked 10 of the 478 companies that were included in the S&P 500 for the period and placed Apple in the 98th percentile. Therefore, 365,600 RSUs subject to performance requirements vested.