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Apple Offers 'Proxy Access', Making it Easier for Shareholders to Nominate Board of Directors

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In a recent securities filing, Apple announced that it plans to offer "proxy access", which allows longtime shareholders or a group of shareholders to nominate a member for its board of directors, reports the Wall Street Journal.
In a securities filing, Apple said its board of directors had adopted amended bylaws Monday that allow a shareholder, or a group of up to 20 shareholders, holding 3% of its shares continuously for three years to include board nominees in the company's annual proxy statement.
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The new bylaws allow shareholders to nominate up to 20 percent of Apple's board of directors. Since Apple has 8 directors, shareholders would be allowed to nominate one director. Proxy access is a recent push by activist investors that seek to make changes on company boards, giving shareholders greater influence on company strategy and the ability to oust directors. Other prominent companies to adopt proxy access include McDonald's, Goldman Sachs and Coca-Cola.

In March at Apple's most recent annual meeting, a shareholder proposal that asked the Cupertino company to adopt proxy access garnered 39 percent support.

Article Link: Apple Offers 'Proxy Access', Making it Easier for Shareholders to Nominate Board of Directors
 
Article Link
https://www.macrumors.com/2015/12/22/apple-proxy-access-shareholders/
ToroidalZeus said:
rest in pepperonis apple
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Maybe if all macrumors members who are shareholders band together, we can nominate one of our own! Such a macrumors director will be instructed to:
- bring back the quad core mac mini
- bring back a 4" iphone model
- add one more port to the retina macbook
- add a file system to the ipad pro
- release the powerbook g5
 
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oneMadRssn said:
Maybe if all macrumors members who are shareholders band together, we can nominate one of our own! Such a macrumors director will be instructed to:
- bring back the quad core mac mini
- bring back a 4" iphone model
- add one more port to the retina macbook
- add a file system to the ipad pro
- release the powerbook g5
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Some of these are making sense. I would love that to happen beside PowerBook G5. Definitely file system to the iPad Pro and one more poet to the retina MacBook
 
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Wow, this move is actually pretty shocking. This makes it much easier for activist investors to get a board seat or two, at least in theory. The Board is actually giving up a lot of power in this move. Nice win for shareholders.

It's unlikely to be used in the next five years and extremely infrequently, but still a nice move by the Board.
 
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For all of the members here who post about Apple losing its magic Post-Steve, THIS is what you really need to pay attention to. I witnessed it with The Walt Disney Company after the Disney family sold off their majority stake. (I realize this is different)

Not many good things can come when a company is solely focused on growth, stock price, and appeasing shareholders. While I realize those things all have a certain level of importance, once they become the majority focus, other parts of the company suffer.
 
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Apple was on this trajectory during Steves last 18 months or so. Therefore I don't believe the "Post-Steve Downtown" is real. Rather it's far more likely that it's just those with emotional connections to a Steve Jobs led Apple that are using their fertile imaginations to see a rosier picture.
 
gco212 said:
Wow, this move is actually pretty shocking. This makes it much easier for activist investors to get a board seat or two, at least in theory. The Board is actually giving up a lot of power in this move. Nice win for shareholders.

It's unlikely to be used in the next five years and extremely infrequently, but still a nice move by the Board.
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My view is somewhat more negative. I read the headline as Apple announced that it plans to offer "proxy access", which allows the old boys network to better keep in touch.
 
TheRealTVGuy said:
For all of the members here who post about Apple losing its magic Post-Steve, THIS is what you really need to pay attention to. I witnessed it with The Walt Disney Company after the Disney family sold off their majority stake. (I realize this is different)

Not many good things can come when a company is solely focused on growth, stock price, and appeasing shareholders. While I realize those things all have a certain level of importance, once they become the majority focus, other parts of the company suffer.
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I'm the opposite regarding this loss of "magic", all my current Mac products are the best I've ever had.

My real issues were in the Steve era, OG iPhone with no apps or 3G. The mess that was Mobile Me. The first few OS X releases which were not even close to consumer ready, OG MacBook Air which was also not ready for prime time (remember the little flap for the extra ports - yuck). etc.

Luckily they learnt from their shortcomings and successor products in these lines have gotten better and better (yet as always there is still room for improvement).

No doubt there have been more small software blips (particularly on iOS), but I also understand complexity is up (my devices do a lot more than they did 3+ years ago), not to mention knit better with each other than previously too. iOS 9.2 and OS X 10.11.2 have been pretty solid so far for me, hoping that continues.
 
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For everyone who thinks this is a good thing for the products, its not.

Apple is like already said more in the shareholder -pleasing mode. Look at the last products. The shareholders heard all the rumors about big ipads and watches that people want them, then apple made them. They dont look ready etc, the functionality isnt there etc..

And why? Because Apple already has too many people to please and cant make just the thing a person envisions.

Now you have al lot of employees who need their instructions what to make and the board is just wanting everything, then nobody thinks really about features and usability because management wants to keep the board happy.

Now everyone is confused and all together make an ipad pro.
..
The data said people wanted a bigger ipad!


And you want to throw more different poeple in a mix?
 
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Keane16 said:
I'm the opposite regarding this loss of "magic", all my current Mac products are the best I've ever had.

My real issues were in the Steve era, OG iPhone with no apps or 3G. The mess that was Mobile Me. The first few OS X releases which were not even close to consumer ready, OG MacBook Air which was also not ready for prime time (remember the little flap for the extra ports - yuck). etc.

Luckily they learnt from their shortcomings and successor products in these lines have gotten better and better (yet as always there is still room for improvement).

No doubt there have been more small software blips (particularly on iOS), but I also understand complexity is up (my devices do a lot more than they did 3+ years ago), not to mention knit better with each other than previously too. iOS 9.2 and OS X 10.11.2 have been pretty solid so far for me, hoping that continues.
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There is a certain irony in your post because you complain about the software complexity of old Apple devices--where they were building products from the ground up--but are fine with the software bugs in modern products which are essentially just polished versions of the old software.

Anyways the New Macbook has one of the worst feeling keyboards ever. The iPhone still comes with 16GB base space which is pitiful given the 4K camera. The Apple Watch was a failure (like every other smartwatch). iCloud is trash compared to Google Drive. It's pretty obvious that going forward Apple won't be the innovative company.
 
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ToroidalZeus said:
There is a certain irony in your post because you complain about the software complexity of old Apple devices-
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I didn't mention anything about the complexity of older Apple software. My point was the old (original) versions of OS X were absolutely atrocious. Some of the worst consumer OSes I've ever used (a list which includes Win ME and Vista). Crashes, hangs, panics, it was a rough time for us Apple users back then.

ToroidalZeus said:
Anyways the New Macbook has one of the worst feeling keyboards ever.
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Completely subjective. Some like it. Others don't. No right or wrong.

I quite like it, but I also like the Surface Keyboard and the iPad Pro Keyboard, the short key travel works well with my touch typing. I actually prefer it to my Late 2011 MacBook where the keys feel squidgy now when I don't strike them in the middle.

ToroidalZeus said:
The iPhone still comes with 16GB base space which is pitiful given the 4K camera.
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The usefulness of a 16GB device depends on your use case. My other half gets on fine with her 16GB 6s. (I get on fine with my work issued 8GB 5c).

I read a report recently from a developer that said around 83% of 16GB iPhone owners have more than 1Gb free. Therefore the majority (looking at available data) are just dandy with their 16GB. Unless you have actual data other than it's "pitiful".

Let's face it most people here want 32GB base as it will save them money, not because it's a smart business decision from Apple.

For my personal device I can't live with 16GB or 32GB, so I pony up for the 64GB as I find enough value in the upgrade. If I didn't I'd buy from a different company.

ToroidalZeus said:
The Apple Watch was a failure (like every other smartwatch).
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Kind of kill your credibility with this.

Pretty much every company on the planet would like a "failure" product line as valuable as the Apple Watch.

If Apple Watch meets your definition of failure then a lot of products also do.

ToroidalZeus said:
It's pretty obvious that going forward Apple won't be the innovative company.
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Compared to which company? The sad part is you can't see that things like Touch ID, Research Kit, Swift, Metal, 3D Touch, class leading 64-bit SoCs etc. are very innovative.

Who in your mind is innovative in the consumer space then?
 
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Keane16 said:
I didn't mention anything about the complexity of older Apple software. My point was the old (original) versions of OS X were absolutely atrocious. Some of the worst consumer OSes I've ever used (a list which includes Win ME and Vista). Crashes, hangs, panics, it was a rough time for us Apple users back then.



Completely subjective. Some like it. Others don't. No right or wrong.

I quite like it, but I also like the Surface Keyboard and the iPad Pro Keyboard, the short key travel works well with my touch typing. I actually prefer it to my Late 2011 MacBook where the keys feel squidgy now when I don't strike them in the middle.



The usefulness of a 16GB device depends on your use case. My other half gets on fine with her 16GB 6s. (I get on fine with my work issued 8GB 5c).

I read a report recently from a developer that said around 83% of 16GB iPhone owners have more than 1Gb free. Therefore the majority (looking at available data) are just dandy with their 16GB. Unless you have actual data other than it's "pitiful".

Let's face it most people here want 32GB base as it will save them money, not because it's a smart business decision from Apple.

For my personal device I can't live with 16GB or 32GB, so I pony up for the 64GB as I find enough value in the upgrade. If I didn't I'd buy from a different company.



Kind of kill your credibility with this.

Pretty much every company on the planet would like a "failure" product line as valuable as the Apple Watch.

If Apple Watch meets your definition of failure then a lot of products also do.



Compared to which company? The sad part is you can't see that things like Touch ID, Research Kit, Swift, Metal, 3D Touch, class leading 64-bit SoCs etc. are very innovative.

Who in your mind is innovative in the consumer space then?
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Apple apologist confirmed.

Tesla.
 
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ToroidalZeus said:
Apple apologist confirmed.

Tesla.
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Apologist? I'm taking them to task for their faults (and I listed many) and to you I'm making excuses on their behalf? What planet are you on.

The fact that you can't back up your arguments says it all. Your opinions are valid - they're yours. You're wider arguments are baseless therefore useless.

It's a shame Tesla don't make computers. They're certainly doing great stuff. Looking forward to seeing them come down to a more mass market price and increase volumes. The car industry is going to be fun to watch over the next 5 to 10 years.

But as I listed with examples, Apple has innovated plenty over the last 5 years and are also doing great stuff. Naming a car company has no bearing on this discussion. Tesla are not going to hurt Apple barring a huge business change. And let's not forget you boldly predicted that going forward Apple wouldn't be innovative.

Reiterating my original point - I do not think Apple has lost its "magic" post-Steve. They made great stuff with Steve - some of which had faults. And they're making great stuff now - some of which has faults.
 
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oneMadRssn said:
Maybe if all macrumors members who are shareholders band together, we can nominate one of our own! Such a macrumors director will be instructed to:
- bring back the quad core mac mini
- bring back a 4" iphone model
- add one more port to the retina macbook
- add a file system to the ipad pro
- release the powerbook g5
Click to expand...
I disagree with you unless u include Mac Pro
 
oneMadRssn said:
Maybe if all macrumors members who are shareholders band together, we can nominate one of our own! Such a macrumors director will be instructed to:
- bring back the quad core mac mini
- bring back a 4" iphone model
- add one more port to the retina macbook
- add a file system to the ipad pro
- release the powerbook g5
Click to expand...

- don't care. I always thought of the Mac mini as an entry level Mac. I guess Apple thought the same way. My next desktop would be an Mac Pro.
- too small for me. Average size hands. Don't care
- I agree but I don't think the MacBook was marketed for us. Those I seen with it don't need ports. Price will drop the same way the Air did as well.
- iCloud Drive, Dropbox, Documents, Onedrive
- PowerPC processors are kinda done now. What would be the point if none of the apps are capable of running on them?

Does this mean my vote doesn't count?
 
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