SEC filing Stories June 6, 2014

Apple’s retail head Angela Ahrendts has stock withheld for tax purposes (Updated)

SEC filings show that Angela Ahrendts had half of her first allocation of AAPL stock withheld on 1st June – the day it vested, and just one month after joining the company – reports ComputerWorld.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Ahrendts received 16,264 shares in Apple stock when it vested June 1 […]

Ahrendts sold 8,331 shares that same day for a pre-tax total of $5,273,523.

The full value of her stock, which is likely to vest (become eligible for sale) over several years, will add up to $78.5M at the current share price. Her total compensation in her final year as CEO of Burberry was $4.4M – though she did also get a clothing allowance of $42,000 and a car allowance of $30,000 (only at a fashion company could you get more to spend on clothes than a car …).

Selling half your stock at the very first opportunity doesn’t seem to send the best of signals a month into the role, but I guess she needs to buy a house out in the Valley and those aren’t exactly cheap right now.

The withholding of the shares came just over a week before a 7-to-1 stock split, on Monday. The stock split should make AAPL shares more attractive to smaller investors, a shift that could make the share price more volatile.

Via Fortune

Update: These shares were withheld for tax purposes by Apple not sold on the open market

SEC filing Stories March 6, 2014

Pixelworks stock jumps 40 percent in pre-trading after disclosing Apple relationship

Shares in video processing specialist Pixelworks are up 39 percent in pre-market trading after an SEC filing surfaced revealing that Apple represented more than 10 percent of its revenue, representing a spend by Apple of $5M+.

SeekingAlpha speculates that Apple is seeking assistance from Pixelworks in developing its long-rumored full television set, though the company’s technologies would seem equally applicable to Apple’s existing products, from iPhones to Macs.

It’s unlikely that either company will enlighten us: Pixelworks only disclosed the relationship because publicly-traded companies are legally obliged to reveal major clients, defined as accounting for more than 10 percent of the revenue.

Pixelworks also makes the VueMagic app which allows wireless presentations to be projected from an iPhone or iPad.

SEC filing Stories April 25, 2012

John Browett starts new role as Apple Retail SVP

When we told you all about Apple’s new Retail Senior Vice President John Browett, appointed to replace J.C. Penney’s new CEO Ron Johnson in January, we knew Browett would move to Cupertino sometime in April to begin his new role. It looks like Apple has now officially welcomed Browett to the company with Apple’s investor website listing the U.S. Securities and Exchange Commission mandatory filings that notify investors (and the SEC) of his official joining of the company. In the filing, it is revealed that Browett was issued 100,000 shares—worth roughly $60 million—with vesting dates at various milestones.

SEC filing Stories April 10, 2012

Apple hired a new leader for its tax department, according to an SEC filing this morning. Phillip Bullock, formerly Symantec’s Chief Accounting Officer, chose to leave the company he joined in 2006 to join the winning team in Cupertino.

Phillip A. Bullock, who was appointed as Symantec’s Chief Accounting Officer in September 2009, announced he will be leaving the Company to lead the tax department at Apple, Inc., and not due to any disagreement with the Company on any matters relating to the Company’s operations, policies or practices.

Bullok has years of experience in the industry, serving as Vice President of Tax and Trade Compliance starting in 2006. He took responsibility for Symantec’s corporate risk assurance function in March 2007, and then he became Chief Accounting Officer in 2009. Before Symantec, he worked for a small tax practice.

This looks to be Apple’s third major hire this year after it hired John Browett from Dixons Retail to head its retail department. Apple also hired Robin Burrowes from Xbox to head App Store marketing in February.

Apple is known for finding the best in the industry, so we suspect it is no different here. Just in time to submit those taxes.

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