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.