Tag - SEC
According to documents filed with the federal Securities and Exchange Commission, Apple CEO Tim Cook earned $10.3 million, which was actually less than most of the other members of Apple's executive team. Cook received his $2 million annual salary, performance bonuses totaling $8 million, and "other"compensation of around $280,000, which may be related to travel and security expenses. The total is approximately $1 million more than he was compensated in 2014, but revenue for the company grew its revenue by $50 billion and net income by $15 billion over the course of fiscal 2015.
According to a new filing with the Securities and Exchange Commission, Apple has awarded newly-named Senior Vice President of Hardware Technologies Johny Srouji was awarded just over 90,000 restricted stock units (RSUs) as a promotion bonus, currently valued at $9.8 million (based on the stock price of AAPL at the time of writing). In addition, Srouji -- a new name to the executive team, but previously the leader of the chip-development effort that led to Apple's in-house processors -- also has common stock holdings valued currently at around $11 million.
Yesterday late, Apple revamped its online presence. The previous separate store is gone, replaced by direct buying links on each product page, and a unified "shopping bag" icon to replace the "store" button in the top menu bar of the site. Clicking on the purchase link no longer redirects to the store.apple.com domain, instead filling the always-available shopping bag, and streamlines the product purchase process.
Apple has filed its latest quarterly report with the US government, and in so doing noted that an ongoing European Commission investigation of Ireland and its government's corporate tax rate could "require Ireland to recover from the company past taxes covering a period of up to 10 years reflective of the disallowed state aid," calling that potential amount "material." While difficult to gauge, the eventual impact could be in the billions for Apple.
Adding a further level of complexity to the Los Angeles Unified School District (LAUSD) failed iPad program, the US Securities and Exchange Commission (SEC) has opened an "informal inquiry" to investigate if the school complied with legal requirements for bond usage in the purchase. The agency is reportedly examining if the contract was properly disclosed to investors, and if sufficient documentation was provided to insure the bonds were used legally.
In its latest SEC 10-Q filing, Apple has revealed certain company details -- including the fact that it still spends a small fraction of the money other tech firms do on Washington lobbying, and that it continues its practice of awarding its executives restricted stock units (RSUs) that could be worth millions if they stay with the company and it continues to do well. CFO Luca Maestri and Senior Vice President of Retail and Online Stores Dame Angela Ahrendts both received their first executive bonuses as part of the disclosure.
As part of Facebook's quarterly financial disclosures, the social networking giant reported that the US Securities and Exchange Commission (SEC) has ended its investigation involving Facebook conduct surrounding the initial public offering in 2013. In its quarterly report, Facebook claims that the SEC ""notified us that it had terminated its inquiry and that no enforcement action had been recommended." Shareholder lawsuits against Facebook and affiliated banks are unaffected by the disclosure.
Erik Voorhees, a co-founder of FeedZeBirds and SatoshiDice, has settled with the United States Securities and Exchange Commission (SEC) over charges related to selling shares of the two companies. Information from the SEC says that Voorhees had solicited the sale of shares in open channels as early as 2012, netting himself over $15,000 in profit in the process.
In the controversial process of merging with DirecTV, AT&T will have to file a great deal of regulatory paperwork with the federal government. One such document to the Securities and Exchange Commission (SEC) has revealed that AT&T believes it can save 20 percent on the cost of acquiring programming for its users. These savings are unlikely to be passed to the customer, and instead will be intended to fund rural broadband programs and other expansions planned by the mega-corporation, should the merger be approved.
The United States Securities and Exchange Commission (SEC) has issued another investor alert on Bitcoin that follows on from a previous publication. Both warn potential investors of the risks of the virtual currency. Offering a long list to support their alert, the SEC draws more references to the Ponzi scheme nature of the currency, the probability of fraud and what the lack of regulation means.
Now AAPL Stock: 112.88 ( + 0.17 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE