Form 4: Apple Director Andrea Jung Acquires 1,516 Restricted Stock Units

Apple director Andrea Jung was granted 1,516 restricted stock units on February 28, 2024, which are scheduled to vest on February 1, 2025.

Summary

• Andrea Jung, a director at Apple Inc., was granted 1,516 restricted stock units on February 28, 2024.
• These restricted stock units represent the right to receive one share of Apple common stock per unit upon vesting.
• The units are scheduled to vest on February 1, 2025, contingent upon continued service through that date.
• The grant was made automatically under the Apple Inc. Non-Employee Director Stock Plan.

Sentiment

Score: 7

Explanation: The document reflects a routine grant of stock units to a director, which is a normal and expected practice. It is positive for aligning interests but not a major event.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment from the director.

Future Outlook

The restricted stock units will vest on February 1, 2025, assuming continued service by the director.

Industry Context

Stock grants to directors are a common practice in publicly traded companies to align their interests with shareholders and incentivize performance.

Comparison to Industry Standards

• Granting restricted stock units to non-employee directors is a standard practice among large technology companies like Apple.
• Companies such as Microsoft, Google, and Amazon also use similar equity-based compensation plans for their board members.
• The vesting period of approximately one year is also typical for these types of grants.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates

Keywords

restricted stock units, stock grant, director compensation, insider trading, equity, AAPL, Apple