Apple Corrects 10-Q SEC Filing, Announces Shareholder Approval of 'Say on Pay' Proposal

Apple today announced that it has filed an amended Form 10-Q with the U.S. Securities and Exchange Commission, correcting errors in the reported vote totals for shareholder-submitted proposals at its most recent annual shareholder meeting.

Last week's filing incorrectly reported the voting percentages for shareholder-submitted proposals because abstentions were counted as "No" votes. Very shortly after the original filing, the company learned that these votes had been incorrectly tallied and an internal investigation confirmed the mistake was due to human error, which Apple regrets. Today's amendment correctly reports the voting results.

The correction affected the outcome of one shareholder-submitted proposal, known as "Say on Pay," which successfully passed with approximately 51.63% of votes cast under corrected counting procedures.

As a result of the corrected vote count, Shareholder Proposal No. 5 Regarding Advisory Vote on Compensation, known as "Say on Pay," was approved with a majority of votes cast. The Compensation Committee of Apple's Board of Directors has been closely following the Say on Pay issue, and anticipates that new laws or regulations will require some form of Say on Pay vote at all public companies in the near future. Even if that does not occur, Apple is committed to implementing an advisory Say on Pay vote next year.

As noted in shareholder materials for the annual meeting, the "Say on Pay" proposal will allow shareholders to cast advisory votes regarding compensation for Apple's senior management at each annual meeting. The referendums would be non-binding, but would allow shareholders a greater voice in communicating with Apple management. Apple had formally opposed the proposal as an ineffective means of offering shareholder input.

Executive compensation has become a popular topic among shareholders throughout the corporate world, with several countries recently passing laws requiring such opportunities for shareholders and the U.S. considering similar legislation.

Top Stories

Apple Doubles the Price of RAM Upgrade on Entry-Level 13-Inch MacBook Pro

Saturday May 30, 2020 4:00 pm PDT by
Apple today doubled the price for upgrading the RAM on the entry-level 13-inch MacBook Pro, with customers in the United States now being charged $200 to move from 8GB to 16GB compared to the previous $100 upgrade price. Similar increases are seen in other countries, such as moving from €125 to €250 in Germany and from £100 to £200 in the United Kingdom. Current pricing on RAM upgrade for ...

8 Mac Tips and Tricks You Might Not Know

Friday May 29, 2020 12:36 pm PDT by
There are tons of hidden features and shortcuts for Macs that Apple has built into macOS over the years, ranging from shortcuts to keyboard commands to other little hacks to make Mac usage just a bit simpler. In our latest YouTube video, we highlighted several of these tips and tricks, and some of them might just be new to you. Subscribe to the MacRumors YouTube channel for more videos. Tr...

Apple Begins Selling Refurbished iPhone XR Models

Thursday May 28, 2020 9:50 pm PDT by
Apple today began selling certified refurbished iPhone XR models in select colors and capacities for the first time in the United States. Refurbished iPhone XR models are priced at a roughly 16 percent discount compared to current pricing on brand-new units, knocking $100–120 off of the regular price. In addition to the 64GB and 128GB capacities matching current brand-new iPhone XR models, ...

Top Stories: macOS 10.15.5, New Powerbeats Pro Colors, iPhone 12 and 13 Rumors, and More

Saturday May 30, 2020 6:00 am PDT by
This week saw an interesting mix of news and rumors on the Apple front, led by the release of macOS 10.15.5, which brings a new battery health feature to newer Mac notebooks, while we also saw the official announcement of new colors for the Powerbeats Pro earphones. On the rumor front, we heard a few tidbits about not just this year's iPhone 12 but also next year's iPhone, while we saw...

Powerbeats Pro Debut in Four New Colors: Spring Yellow, Cloud Pink, Lava Red, and Glacier Blue

Friday May 29, 2020 10:00 am PDT by
Following a couple of leaks in recent weeks, Beats today is officially announcing four new colors for its Powerbeats Pro wireless earphones: Spring Yellow, Cloud Pink, Lava Red, and Glacier Blue. The new earphones will go on sale June 9 and sell for the same $249.95 price as the existing color options. Aside from the colors, the new Powerbeats Pro models are otherwise identical to the...

Apple Releases macOS Catalina 10.15.5 With Battery Health Management Features, Fix for Finder Freezing

Tuesday May 26, 2020 1:59 pm PDT by
Apple today released macOS Catalina 10.15.5, the fifth update to the macOS Catalina operating system that was released in October 2019. macOS Catalina 10.15.5 comes two months after the launch of macOS Catalina 10.15.4, which introduced Screen Time Communication Limits. macOS Catalina 10.15.5 is a free update that can be downloaded from the Mac App Store using the Update feature in the...

Apple Making It Harder to Avoid Nagging macOS Update Notifications

Thursday May 28, 2020 8:13 am PDT by
With the release of macOS Catalina 10.15.5 and related security updates for macOS Mojave and High Sierra earlier this week, Apple is making it more difficult for users to ignore available software updates and remain on their current operating system versions. Included in the release notes for macOS Catalina 10.15.5 is the following:- Major new releases of macOS are no longer hidden when...

Leaker Shares Details on 'iPhone 13' Camera [Updated]

Wednesday May 27, 2020 4:27 pm PDT by
The next-generation iPhone 12 lineup coming in fall 2020 isn't out yet, but Fudge (@choco_bit), a leaker who sometimes shares information on upcoming Apple devices, today offered up details on what Apple has in store for the 2021 iPhone 13's camera setup. A simple design drawing depicts a device with a four camera array, which Fudge claims will have the following features: 64-megapixel...

More Photos and Video of Apple's Redesigned Leather Loop Watch Band Surface

Thursday May 28, 2020 10:50 am PDT by
Images of a new version of the Leather Loop that Apple appears to have in development surfaced yesterday, and today, Vietnamese site Tinhte.vn has shared additional photos and videos that give us a clearer picture of what to expect from the new band. The bands come in colors that include red, hot pink, blue, black, and brown, with some of the bands featuring different colored accents at the...

Tile Writes to EU Accusing Apple of Abuse of Power

Friday May 29, 2020 4:29 am PDT by
Bluetooth accessory maker Tile has written to the European Union accusing Apple of abuse of power and of illegally favoring its own products. According to a report by Financial Times, in a letter sent on Tuesday to the European Commissioner for Competition, the accessory maker said that Apple is making it harder for users to use Tile products on iPhone because it has its own rival Find My...