Highlights from Apple’s Preliminary Proxy Statement, 2014 Shareholders Meeting Proposals
Apple has released its preliminary proxy statement in a filing to the SEC. The filing is an announcement of the 2014 annual stockholders meeting, as well as proposals that will be voted on at the meeting and details of executive compensation arrangements.
Among other things, the filing details a forthcoming vote on investor Carl Icahn’s proposed $50 billion share repurchase program that was filed for earlier this month. If approved, the proposal would still be on a non-binding “advisory” basis, and would specifically call for the company to commit to fulfilling no less than $50 billion of share repurchases during Apple’s fiscal year ending on September 27, 2014.
However, Apple’s Board of Directors has recommended a vote against Icahn’s buyback program, stating that it is still “considering options“ for how to return cash to shareholders:
The Board and management team are thoughtfully considering options for returning additional cash to shareholders and are currently seeking input from shareholders as part of the Company’s regular review.
With breakthrough products and services such as the Mac, iPod, iPhone, iPad and App Store, the Company has created huge market opportunities, and the Board and management team believe the opportunities that lie ahead are just as exciting. Given such large and global markets, the Company competes with large companies around the world, many with their own significant technical capabilities and significant capital. This dynamic competitive landscape and the Company’s rapid pace of innovation require unprecedented investment, flexibility and access to resources.
…The Company is updating perspectives on its capital return program for 2014 and beyond. The Company is collecting input from a very broad base of shareholders, believing that the input of all shareholders is important and should be considered holistically. The evaluation of the capital return program continues to be thoughtful, deliberate, and consistent with a conservative financial policy that supports risk-taking and innovation. Consistent with its pattern for the last two years, the Company is on track to complete its regular review and thorough analysis and to announce any changes to the current program by March or April of 2014.
Since first disclosing his position in Apple back in August, Icahn has been vocal about asking the company to increase its buyback as he has dramatically increased his stake in the company. Apple, for its part, announced a significant increase in its capital return program back in April of 2013, and management pledged to reexamine its share repurchase and dividend programs in the first half of 2014.
Also detailed is a proposal on establishing a separate entitled committee that would oversee human rights issues raised by the company’s activities, such as the recent accusations of labor violations at primary suppliers like Pegatron and Biel Crystal and the welfare of its own employees.
However, Apple also recommended a vote against the proposal, stating that its Supplier Responsibility team and report already audits suppliers to an effective extent and that establishing a committee would be “redundant“ and add little value to its existing commitment to human rights and social responsibility.
The preliminary proxy statement also noted the earnings of CEO Tim Cook’s total compensation for 2013. While Cook saw an increase in his salary this year to $1,400,006 from $1,357,718 last year, the CEO gave up about 7,100 shares tied to his bonus stock award that was changed in June to be more performance based. At the stock’s current price of $560.09, this would mean that Cook lost out on $3,976,639 in bonus earnings.
Overall, the shareholders meeting will hold votes on eleven proposals related to director reelection, compensation, and more.
The 2014 Annual Meeting of Shareholders will occur at Apple’s 1 Infinite Loop headquarters on February 28, 2013 at 9AM.
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Daily Roundup: Snapchat security exploit, judge okays NSA spying and more!
You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours — all handpicked by the editors here at the site. Click on through the break, and enjoy.
Judge okays NSA spying
A US District judge in Manhattan deemed the NSA’s telephone data collection legal, as he saw no evidence was being used in any way other than attempting to foil terrorist plots. Click through for the ruling.
Reported Snapchat security exploits
Researchers from Gibson Security discovered a pair of Snapchat security exploits that could reveal private user data. The team claims they originally approached the startup with concerns last August and were ignored. Follow the link for the rest of the story.
HTC’s Thomas Chien saga concluded
Taipei District Prosecutor’s Office concluded its investigation regarding HTC’s ex-lead designer Thomas Chien. Click on through for the saga’s final details.
CyanogenMod ROM available for the Oppo N1
Oppo N1 owners can now swap its ColorOS for Android, courtesy of CyanogenMod. Click through for more information.
Filed under: Misc
Hackers get encrypted PINs in Target data breach
Holiday shoppers have already been reeling from a breach of Target’s database, and their situation isn’t improving now that Christmas is over. The store chain has confirmed that the perpetrators took encrypted PIN codes, theoretically scoring access to legions of accounts. There is some consolation for affected customers, though. Target notes that the encryption key rests with an outside payment processor; unless the hackers attacked both companies, they won’t have an easy time cracking into the financial data. The reassurances won’t help those who’ve had to replace bank cards in light of the breach, but they do suggest that Target avoided the worst possible outcome.
Filed under: Internet
Source: Target
Sony Xperia Z1 Mini appears again, coming soon?
We have seen the Sony Z1 Mini passing through the FCC, and the device is already available in Japan as Sony Xperia Z1 F, and in other regions it will be known as the Xperia Z1S or Xperia Z1 Mini probably. Now according to some new leaks, the device will be available in China starting next month.
It is said that Sony will officially revealed it at the Chinese New Year Festival on January 3rd, so we might see the Z1 Mini then. And about its pricing, it is reported to come with a hefty price tag of 4099 Yuan – or almost $675. It is really expensive, but probably it’s because of the selected region. We might see different prices for UK and USA, something around $400 would be fine, no?
The phone is almost just like the Xperia Z1, except it has 4.3-inch IPS display with a resolution of 720×1080, and a smaller battery. Are you planning to grab one? Let us know in the comment box below.
Source: GForG
The post Sony Xperia Z1 Mini appears again, coming soon? appeared first on AndroidGuys.
UPS and FedEx buckle under holiday load, leaving retailers and families in the lurch
Didn’t get your Christmas presents in time? You’re far from alone. Seems that both FedEx and UPS greatly underestimated the number of packages that would be passing through their systems this holiday season. More consumers are doing their gift shopping from the comfort and safety of their computers, bombarding our already stretched parcel services — it’s not surprising that something had to give. According to a spokesperson, FedEx handled roughly 275 million packages between Thanksgiving and December 22nd, while the US Postal Service said it saw a 19 percent increase in volume over last year (UPS declined to say exactly how much its expectations were exceeded). While these companies insist that the vast majority of packages were delivered by their promised December 24th deadline, a small portion did not make it in time to be placed under the tree on Christmas morning. Both the delivery companies and retailers are working to repair the damage, but the writing may be on the wall for 2014. The deadline for Christmas orders will undoubtedly be earlier next year, but the more immediate problem will be making things right with consumers this year.
A number of companies, including Amazon and Kohl’s have been proactive in addressing the situation. The former is refunding associated shipping fees and even offering $20 gift cards to those who didn’t receive their packages by the 24th. Kohl’s is contacting customers whose deliveries were delayed and offering to fully cover the cost of items delivered late. Walmart also appears to have suffered at the hands of over-extended delivery companies and is offering customers gift cards (usually $25) as an apology. 1-800-Flowers also saw a small percentage of its orders delayed and is offering $20 refunds, while Groupon is handing out $25 towards a future purchase.
Next holiday may see scaled back promises from both retailers and shipping companies, as well as increased investment in infrastructure, but this year’s issues do not appear to be due to a lack of effort or preparation. UPS workers put in plenty of overtime and even made deliveries on Sunday, but it simply seems that its network was not capable of keeping up with the flood of last minute orders. Amazon also did its best to avoid complications by hiring 70,000 seasonal workers, only to be thwarted by overwhelmed delivery companies. If your packages didn’t arrive on time, you can contact the retailer’s customer service to see what sort of compensation they’re offering. Though, your best bet is to get your Christmas shopping done before December 23rd next year.
Engadget Podcast 374 – 12.26.13
This week’s podcast ditches the studio and delivers the mellifluous voices of Brian, Terrence and Billy without all that video nonsense, leaving much to the imagination. The news tidbits are real, however, and the discussion launches into tasty gadget gifts, spearheaded by Apple’s shiny new Mac Pro. Avegant has a new immersive display arriving soon and Canonical is giving the gift of dual-booting this season, so that Android users can get in on the Ubuntu experience, too. It’s a festive bit of banter this week, so heat up those leftovers, grab a tasty beverage and settle in for another edition of the Engadget Podcast.
Hosts: Brian Heater, Terrence O’Brien, Billy Steele
Producer: Jon Turi
Hear the podcast:
04:30 – Apple Mac Pro review (2013): small, fast and in a league of its own
04:43 – UK pardons computing pioneer Alan Turing
12:15 – Avegant tests Glyph wearable display prototype, on track for CES debut
16:18 – BlackBerry’s latest casualty: Two unreleased phones
29:24 – Swiss researchers created a cube that can sit, jump and walk (video)
38:01 – HP’s new tablets may be its way back into the smartphone world
41:19 – Canonical gives developers a preview of a dual-booting Ubuntu and Android future
Subscribe to the podcast:
[iTunes] Subscribe to the Podcast directly in iTunes (enhanced AAC).
[RSS MP3] Add the Engadget Podcast feed (in MP3) to your RSS aggregator and have the show delivered automatically.
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[Zune] Subscribe to the Podcast directly in the Zune Marketplace.
Download the podcast:
Contact the podcast:
Connect with the hosts on Twitter: @bheater, @terrenceobrien, @wmsteele
Email us: podcast [at] engadget [dot] com
Filed under: Podcasts
New Mac Pro Confirmed to Have Removable CPU
With the first new Mac Pro units having made their way to reviewers and even some early online orders arriving in the closing days of 2013, more details on the new machines are continuing to surface.
Other World Computing (OWC) has performed a quick teardown on one of the new machines, and while documentation currently consists of only a small set of photos, the company has confirmed that the Intel Xeon E5 processor found in the Mac Pro is indeed removable, allowing for future upgrades. All four available CPUs for the new Mac Pro use the same LGA 2011 socket standardized on the Mac Pro’s motherboard.
The main processor is one of the most significant variables in the cost of the new Mac Pro, with the four available CPU options spanning $3500 in upgrade charges. Pricing relative to the stock 3.7GHz quad-core Intel Xeon E5 with 10MB of L3 cache is as follows:
– 3.5GHz 6-Core Intel Xeon E5 with 12MB of L3 cache: +$500
– 3.0GHz 8-core Intel Xeon E5 with 25MB of L3 cache: +$2000
– 2.7GHz 12-core Intel Xeon E5 with 30MB of L3 cache: +$3500
Using a removable socketed processor rather than the soldered processors found in most of Apple’s Macs means that users may be able to upgrade their machines in the future as their needs change and/or chip prices decline.
Earlier this week, OWC also shared a photo showing the new Mac Pro driving a total of six 27-inch displays, each with a horizontal resolution of at least 2500 pixels. The new Mac Pro offers six Thunderbolt 2 ports for connectivity, allowing for a number of combinations of displays and other peripherals.
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Motorola Moto G Coming To India Early January
Motorola took to Twitter and announced that the Moto G will be available in India at the beginning of January 2014. We knew that India and other countries would be seeing the Moto G eventually but this is the first confirming timeline as to when that will happen. No word on other countries and release dates as of yet. There is no word on pricing of the Moto G in India but Softpedia reports that it should be running Android 4.4 Kit-Kat, which is always a plus. The Moto G has received great praise among the tech media for its affordability and cost. So to our Indian readers, keep your eyes peeled for Moto G to hit your carriers soon. Hit the link for source.
Check out Alex’s other work on Techaeris.com
Kanye West – Yeezus album & a CHVRCHES album FREE in Google Play
Still looking for some great deals around the web? Perhaps you need some new tunes to drop into your Google Music account to cast to your Chromecast or play on your new tablet. Google has you covered today. Right now you can pick up the entire Yeezus album by Kanye West free of charge.
It is kind of funny though, they offer one track for free and all the rest for $1.29 each, but you can get the whole album for free. A great deal if you are in need of some music and Kanye is an artist you like. Head to the Play Store and pick it up real quick before its gone. There is a good chance this is a US only offer, so don’t be surprised if you can pick it up out side of the states.
Small Update: It looks like you can also snag “The Bones Of What You Believe” by CHVRCHES for free as well. Double free albums. Snag it from here.
Rdio shutters Vdio movie streaming service, offers Amazon gift cards as compensation
Rdio was a bit late to the game when it announced its movie streaming service, Vdio, earlier this year. The spinoff site was available in beta form in the US, the UK and Canada, offering blockbuster flick rentals for $6 and movie purchases for up to 20 bucks. Rdio took Vdio offline today, however, citing an inability to differentiate its offering in a very crowded market. Customers who purchased movies and TV shows or have unwatched rentals will receive compensation in the form of Amazon gift cards, while promotional credit will expire. Click through for a surprisingly succinct FAQ.
Filed under: Home Entertainment, Internet, HD
Via: TechCrunch
Source: Vdio
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