Apple Inc. Investors Meeting: Highlights and Decisions
In a recent virtual meeting, Apple Inc. shareholders voted on several important proposals, notably deciding to maintain the company’s diversity, equity, and inclusion (DEI) initiatives. Although an external proposal suggested ending these efforts, it was not passed. CEO Tim Cook acknowledged the possibility of making some adjustments to the DEI program, ensuring it remains effective and aligned with Apple’s goals.
The meeting, led by Cook and General Counsel Kate Adams, also saw shareholders dismiss proposals for additional reports on artificial intelligence risks and child sex abuse material (CSAM) decisions. Another rejected proposal concerned the company’s charitable giving practices.
Shareholders confirmed the reappointment of Apple’s board of directors, approved its external accounting firm, and endorsed executive compensation packages. Notably, Tim Cook’s total compensation for the previous year amounted to $74.6 million, reflecting an 18% increase. This package included a $3 million base salary, $58.1 million in stock options, and roughly $13.5 million in other forms of compensation.
Consistent with most years, the voting outcomes aligned with Apple’s recommendations. A deviation from this trend occurred in 2022, when investors supported proposals on employment agreement confidentiality and civil rights audits, contrary to company advice.
The proposal to dismantle DEI initiatives at Apple follows similar moves by companies like Meta Platforms Inc. and Alphabet Inc.’s Google, which have begun scaling back their own diversity programs.
