ISS recommends Apple shareholders vote for CEO Tim Cook, other execs’ pay packages

Proxy advisory firm Institutional Shareholder Services (ISS) is recommending that Apple shareholders vote for the company’s director nominees and the pay packages for CEO Tim Cook and other top executives.

Reuters:

The ISS stance, published in a research note on Friday, comes after the iPhone maker had slashed Cook’s 2023 compensation target by more than 40% to $49 million. Cook’s salary will also depend more on how well the company’s shares perform relative to market peers, according to regulatory filings by the company.
The proxy advisory firm also recommended investors vote for proposals including a resolution demanding a report on median gender and racial pay gaps, and an amendment of proxy access right, both of which were opposed by the company’s management…
During last year’s annual meeting, Apple shareholders had voted down a proposal requesting that the company report on its gender and racial pay gaps, with 66.4% of votes cast against it.

MacDailyNews Note: Apple will host the 2023 Annual Meeting of Shareholders on March 10, 2023 at 9:00 am P.T. in a virtual format. You can access the meeting by visiting www.virtualshareholdermeeting.com/AAPL2023 on the day of the meeting. The bank, broker, or other organization that holds your Apple shares will be issuing proxy materials to you that will include a unique control number. You’ll need that unique control number to access the meeting, and vote during the meeting. The record date for the meeting is January 9, 2023. Additional details about the meeting and the matters to be voted on are available in Apple’s proxy statement here.
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