Apple Schedules Virtual Shareholders Meeting for February 2026
Apple Inc. has officially announced that its annual shareholders meeting will be conducted virtually on February 24, 2026, at 8:00 a.m. Pacific Time. Shareholders who were registered as of January 2, 2026, are eligible to participate, cast their votes, and submit questions during the meeting.
A significant agenda item for this year’s meeting is the re-election of the company’s board of directors. Traditionally, Apple’s corporate governance guidelines stipulate that board members should not seek re-election after reaching the age of 75. However, two current board members, Ron Sugar (77) and Chairman Art Levinson (75), have surpassed this age limit. In its recent proxy filing, Apple has decided to waive this age restriction for both individuals.
The board’s decision to grant this waiver was influenced by several factors:
– Valuable Experience and Expertise: Both Dr. Levinson and Dr. Sugar bring substantial knowledge and insight into Apple’s business operations, which is deemed invaluable for the company’s continued success.
– Continuity in Leadership: Maintaining consistent leadership is crucial, especially during periods of strategic planning and execution. The board believes that retaining these seasoned leaders will provide stability and guidance.
– Recent Board Changes: Over the past four years, Apple has introduced three new board members, accounting for over one-third of its membership. Additionally, two long-serving members have retired. Given these changes, the board considers it beneficial to retain experienced leaders like Dr. Levinson and Dr. Sugar to ensure a smooth transition and continuity.
This decision is particularly noteworthy amid ongoing speculation about CEO Tim Cook’s future plans. Rumors suggest that upon his eventual retirement as CEO, Cook may assume the role of chairman. By retaining Levinson in his current position, Apple aims to ensure a seamless leadership transition when the time comes.
In addition to the board re-election, shareholders will be asked to vote on several key proposals:
1. Ratification of Ernst & Young LLP: Shareholders will decide whether to continue with Ernst & Young LLP as Apple’s independent accounting firm.
2. Executive Compensation Approval: An advisory vote will be held to approve the compensation packages for Apple’s executive team.
3. Non-Employee Director Stock Plan: Shareholders will consider the approval of a stock plan designed for non-employee directors.
Furthermore, Apple is advising shareholders to vote against a proposal titled China Entanglement Audit. The company argues that:
– Sufficient Transparency: Apple already provides comprehensive information regarding its international operations, making the proposed audit redundant.
– Operational Autonomy: The proposal is viewed as overly prescriptive and could unduly limit Apple’s ability to manage its business operations and strategic initiatives effectively.
For detailed information, shareholders are encouraged to review Apple’s Notice of 2026 Annual Meeting of Shareholders and Proxy Statement.
