<SEC-DOCUMENT>0001214659-19-000797.txt : 20190205
<SEC-HEADER>0001214659-19-000797.hdr.sgml : 20190205
<ACCEPTANCE-DATETIME>20190205093016
ACCESSION NUMBER:		0001214659-19-000797
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190205
DATE AS OF CHANGE:		20190205
EFFECTIVENESS DATE:		20190205

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APPLE INC
		CENTRAL INDEX KEY:			0000320193
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				942404110
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36743
		FILM NUMBER:		19566496

	BUSINESS ADDRESS:	
		STREET 1:		ONE APPLE PARK WAY
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014
		BUSINESS PHONE:		(408) 996-1010

	MAIL ADDRESS:	
		STREET 1:		ONE APPLE PARK WAY
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	APPLE COMPUTER INC
		DATE OF NAME CHANGE:	19970808

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			McRitchie James
		CENTRAL INDEX KEY:			0001736547

	FILING VALUES:
		FORM TYPE:		PX14A6G

	MAIL ADDRESS:	
		STREET 1:		9295 YORKSHIP CT
		CITY:			ELK GROVE
		STATE:			CA
		ZIP:			95758
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Apple, Inc.<BR>
Shareholder Alert<BR>
Voluntary submission by James McRitchie, 9295 Yorkship Ct, Elk Grove, CA 95758. Apple, Inc. shareholder since 1999</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt"><B>Vote For Proposal 4</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Apple proposal 4 would raise the number of &ldquo;Shareholder Nominees&rdquo;
eligible to appear in Apple's proxy materials from 20% to 20% of the directors then serving&nbsp;<I>or 2, whichever is greater</I>.
Apple currently has 8 directors; 20% of 8 rounded down is 1. A single shareholder nominated and elected director could be easily
isolated and ineffective, unable to get a second on a motion to discuss important topics.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to&nbsp;<FONT STYLE="color: blue"><B><U>The Latest
on Proxy Access</U></B></FONT> (https://www.sidley.com/-/media/update-pdfs/2019/01/20190111-corporate-governance-update.pdf?la=en),
from Sidley, &quot;proxy access is now mainstream at S&amp;P 500 companies (71%) and is nearly a majority practice among Russell
1000 companies (48%).&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Apple Proposal 4: SEC Rejected False Claims</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In its request to the SEC, our Company alleged the Proposal's
Supporting Statement &quot;falsely describes the Company as a &lsquo;distinct outlier&rsquo; and a &lsquo;laggard&rsquo; in regards
to its access bylaw. These statements are objectively and demonstrably false and misleading...&quot; The&nbsp;<FONT STYLE="color: blue"><B><U>SEC
flatly rejected Apple's request</U></B></FONT> (https://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/2018/mcritchieapple112118-14a8.pdf).
&quot;We are unable to conclude that you have demonstrated objectively that the Proposal is materially false and misleading.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Apple Proposal 4: The Facts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to Sidley: The majority of proxy access provisions
adopted since the beginning of 2015 &ndash; including 84% of the proxy access bylaws adopted in 2018 &ndash; have the following
terms: 3% for 3 years for up to 20% of the board (at least 2 directors) with a nominating group size limit of 20.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A significant majority of companies limit the number of board
seats available to proxy access nominees to the greater of 2 or 20% of the board (438 out of 565 companies (78%)) and this has
become standard in recent years. Some companies have limited the number of board seats available to proxy access nominees to 20%
of the board, without specifying a minimum of at least two proxy access nominees (<I>62 out of 565 companies (11%)</I>). Dozens
of companies have adopted a 25% cap (65 out of 565 companies (12%)), 40 of which provide for a minimum of 2 proxy access nominees.
(my emphasis)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Apple Proposal 4: Analysis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sidley's 2018 report (https://www.sidley.com/-/media/update-pdfs/2018/02/20180201-corporate-governance-report.pdf?la=en),
cited in the Proposal, provided an overview of provisions adopted by 475 companies in 2015, 2016, and 2017, including the most
restrictive nominee limit, 77 instances (16% of the total) where, like Apple, provisions limit nominees to 20% of directors. Most
of the 77 companies listed have 10 or more directors, so the 20% limit would yield at least two proxy access nominees. Only 22
(29%) of the 77 companies fell into the same category as Apple, with proxy access candidates limited to 1 based on current board
size. Examples include Arch Coal, Cabot Oil &amp; Gas, and EOG Resources. Apple falls into the bottom 4.6% (22/475 companies).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note: The 2019 Sidley report found the number of companies in
this category shrank from the 77 previously reported to 62 of 565 companies. Our analysis was based on the larger number of 77
because the latest report does not provide a company by company list of provisions. If the proportion of boards with the 20% provision
and less than ten directors holds year over year, Apple is even more of a laggard (29% x 62/565 = 3%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Apple Proposal 4: Apple Claims to be &quot;Mainstream&quot;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Apple's opposition statement claims: &ldquo;Our proxy access
bylaws overall are well within the mainstream of public company practices and share similar features with the proxy access bylaws
of many other companies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Apple Proposal 4: Lift Apple From Bottom 4.6% to Mainstream
78%</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
outlined above, Apple joins the bottom 22 companies with regard to this significant provision among the 475 companies with proxy
access. Just as we do not want Apple to be a laggard in its products or services, we do now want our Company to lag in corporate
governance. Lift Apple from the bottom 4.6% (or 3%) to the mainstream standard practiced by 78% of companies with proxy access.
<FONT STYLE="font-size: 10pt">Vote FOR Apple Proposal 4.</FONT></FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated under the Securities Exchange
Act of 1934. Submission is not required of this filer under the terms of the Rule, but is made voluntarily in the interest of
public disclosure and consideration of these important issues. This is not a solicitation of authority to vote your proxy.&nbsp;
Please DO NOT send me your proxy card; the shareholder is not able to vote your proxies, nor does this communication contemplate
such an event.&nbsp;&nbsp;<BR>
<BR>
Vote 4 Proposal 4 by following the instructions provided in the management proxy mailing.</FONT></P>

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