Apple invites to AGM – reveals concerns over competition investigations

Anyone who has owned shares in Apple since no later than 28 December can now register for this year’s Annual General Meeting, which this year will be held virtually on 23 February. In the invitation, Apple urges all shareholders to pre-register their votes so that they are guaranteed to be counted.

At the same time, the company has submitted a report to the US Financial Services Authority SEC called “proxy statement” which listed companies must submit and make available to shareholders so that they can make informed decisions about how to vote at the meeting.

This year, for the first time, Apple addresses competition laws and antitrust investigations as a risk factor for the company, something that was first noted by CNBC.

Apple has an employee named “antitrust compliance officer” whose role is to develop, update and execute the company’s competition plan to ensure that Apple does not commit any competition offenses. The person reports regularly to the Board’s audit committee.

The document also contains some other interesting information. For example, the remuneration of Apple’s top executives from 2021 will be adjusted based on how well the company lives up to its values.

In 2020, Tim Cook withdrew the least money from the top executives – just under $ 15 million. Kate Adams, Luca Maestri, Deirdre O’Brien and Jeff Williams all received equal pay, equity bonds and performance-based compensation, landing at just over $ 26 million each. In 2021, Tim Cook will receive 3,920,000 shares allotted to him when he took over as CEO.

Apple also announces that the number of paying subscriptions has increased by 135 million to a total of 585 million.