---
title: "A comprehensive understanding of Apple's 2026 shareholder meeting: 5 topics, 1 rejected, Cook not retiring"
description: "Apple Inc. approved four management proposals at the 2026 shareholder meeting, including the election of board members, the reappointment of the accounting firm, and the executive compensation plan, b"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276817529.md"
published_at: "2026-02-25T02:26:26.000Z"
---

# A comprehensive understanding of Apple's 2026 shareholder meeting: 5 topics, 1 rejected, Cook not retiring

> Apple Inc. approved four management proposals at the 2026 shareholder meeting, including the election of board members, the reappointment of the accounting firm, and the executive compensation plan, but rejected the shareholder proposal for "China-related audits." The eight directors nominated by the board were re-elected, maintaining their independence. Cook's target compensation was $59 million, while his actual total compensation was $74.3 million

On February 24, local time in the United States, Apple Inc. held its 2026 Annual Shareholders Meeting.

At this shareholders meeting, **Apple shareholders voted to approve all four management proposals, including the nomination of board members, the appointment of an accounting firm, executive compensation consulting votes, and stock incentives for non-employee directors**, while rejecting the only shareholder-proposed "China-related audit" proposal, with the overall results consistent with the board's recommendations.

## **Board Proposals: Seeking Stability and Emphasizing Continuity**

There were five voting proposals at the 2026 Apple shareholders meeting, four of which were management proposals.

The Apple board recommended shareholders vote in favor (FOR) of all four proposals, which were ultimately approved by shareholders.

-   First Proposal: Election of Board Members

In January of this year, Apple nominated the current eight directors for re-election, with terms ending at the conclusion of the 2027 shareholders meeting. Shareholders voted to approve all director candidates at this meeting.

Structurally, the Apple board continues to feature a composition primarily of senior members, with most directors possessing management experience in multinational corporations or large institutions across sectors such as technology, consumer brands, biomedicine, defense aerospace, and financial investment. Independent directors hold a majority, maintaining the board's independence in governance and oversight.

The eight directors re-elected this time are:

-   Second Proposal: Reappoint Ernst & Young as the company's independent registered accounting firm for the fiscal year 2026
-   Third Proposal: Executive Compensation Consulting Vote

The Apple shareholders meeting reviewed and approved the executive compensation plan for fiscal year 2025.

According to the company's disclosure documents, Apple CEO Tim Cook's **target total compensation for fiscal year 2025 is $59 million**, which includes a $3 million base salary, $6 million in cash incentives, and $50 million in target equity awards, with his **actual total compensation being $74.3 million**.

Of the $74.3 million, in addition to salary and equity awards, it also includes approximately $1.76 million in other compensation items, specifically covering $21,000 in 401(k) contributions, $2,964 in life insurance costs, $57,700 in vacation cash compensation, $789,900 in personal air travel expenses, and $887,900 in security expenditures.

Compared to the compensation levels of approximately $99.4 million for fiscal year 2023 and approximately $63.2 million for fiscal year 2024, the actual compensation for fiscal year 2025 is at the median of the range over the past three years. The board recommended shareholders vote in favor, and shareholders ultimately approved the proposal.

-   Fourth Proposal: Revision of the Non-Employee Director Stock Plan

Shareholders approved the revised Non-Employee Director Stock Plan, which is used to provide equity incentives to non-employee directors. The board recommended approval, and shareholders ultimately supported it

## **Shareholder Proposal: Focus on China Business and Supply Chain Risks**

The only shareholder proposal at this meeting is the "China Entanglement Audit," submitted by the National Center for Public Policy Research (NCPPR). This proposal requests Apple to prepare a special report assessing the company's risk exposure in the Chinese market and supply chain.

**The risk points involved in the proposal include:**

-   A potential import tariff of up to 145% on Chinese goods by the U.S. in 2025;
-   Apple's expansion of manufacturing in India and Vietnam while still relying on Chinese components;
-   Possible impacts on overseas production if engineering support is limited;
-   Potential litigation risks arising from insufficient disclosure of related risks.

**The proposers believe that these factors may have a long-term impact on shareholders.**

**Apple's board of directors recommends that shareholders vote against the proposal, arguing that the company has adequately disclosed international operations and supply chain-related risks in its annual report, and that preparing an additional special report is unnecessary.** The board also pointed out that the proposal is highly directive and may limit the company's operational autonomy in a complex international environment.

**Ultimately, shareholders voted down the proposal.**

Although the risk issues in the Chinese market were raised at the meeting, the financial data presents another side.

In the first fiscal quarter of FY 2026, the Greater China region achieved revenue of $25.526 billion, a year-on-year increase of 22%. This performance shows that the Chinese market remains a solid part of Apple's overall business.

For Apple, China is both an important manufacturing base and a key consumer market for high-end products. How to maintain a balance between diversified supply chain layout and stability in core markets will continue to influence the company's strategic direction in the coming years.

## **Prelude to Succession: Management Reshuffle in the Cook Era**

**Apple's New Generation Core Team**

Since Tim Cook took over as CEO of Apple in 2011, the company's market value has increased from about $350 billion to over $4 trillion, and quarterly revenue has grown from less than $30 billion to over $100 billion.

With several core executives retiring or leaving the company, Apple's management is undergoing significant adjustments, creating conditions for potential succession and future strategic layout.

Recently, at an all-hands meeting, Cook also rarely mentioned the topic of retirement, stating that "at a certain age, it is quite natural for some people to choose retirement," but he did not clarify whether he would retire in the short term.

In terms of specific personnel changes, several long-term executives, including former Chief Operating Officer Jeff Williams and Head of Environment and Policy Affairs Lisa Jackson, are set to leave the company between the end of 2025 and early 2026.

In this context, Senior Vice President of Hardware Engineering John Ternus is gradually becoming a potential successor. He has worked at Apple for nearly 25 years, possesses both product design and engineering experience, and frequently appears at product launches and public events, gradually becoming a candidate for succession in the public eye Apple has also made adjustments to its core management team, focusing on strengthening capabilities in key areas such as hardware innovation, XR product development, human-computer interface design, and technology research and development. These changes not only help maintain Apple's product competitiveness and innovation capability but also support succession transitions and strategic planning.

Apple's recent personnel adjustments are not merely simple job rotations; rather, the company intends to signal to the outside world the transition from the Cook era to the next generation of leadership through management updates.

## **AI Strategy: The Next Step for Apple Intelligence**

The 2026 shareholder meeting did not mention any specific AI proposals, but this does not indicate a decline in interest.

Apple's current strategic core is extremely clear: **no longer simply pursuing a stacking of algorithm parameters**, but rather making AI the "adhesive" that bridges hardware, XR (extended reality), and ecological services to address increasingly severe industry competition.

Apple is redefining the way users interact with the physical world through AI.

This strategy is first reflected in its aggressive XR roadmap: the Air headset, expected to be released in 2026, will serve as a lightweight entry point, attempting to introduce real-time AI perception into the mass consumer market; while the smart glasses with display functionality planned for 2027 aim to fundamentally change the form of information presentation through the integration of AR and spatial computing.

In this process, Siri is no longer just a voice assistant but is evolving into an intelligent hub that can "see" and understand the user's environment through the integration of visual patent technology.

Ultimately, Apple's AI strategy is a game about "experience density": that is, AI is not just software but an intuitive form of environmental perception.

## **Financial Discipline and Long-Term Vision: Balancing Costs and Expansion**

Apple's performance in the first quarter of the 2026 fiscal year is remarkable—revenue reached $143.756 billion, net profit grew by 16% year-on-year, and gross margin climbed to 48.2%. Behind these impressive figures, the company's management is actively addressing structural cost increases while continuously investing in future strategic layouts.

First, Apple is responding to cost pressures through a premium strategy.

With the ongoing rise in costs for advanced process chips, high-bandwidth memory, and supply chain infrastructure, Apple faces significant supply chain cost pressures. Apple **relies on the strong performance of the iPhone 17 Pro series and high-end Mac product lines to use brand premium to offset rising raw material costs**, achieving a stable increase in gross margin. This strategy demonstrates Apple's pricing power and cost control level in the high-end market.

Second, R&D investment remains high growth.

In the first quarter, R&D expenditure reached $10.887 billion, a year-on-year increase of 32%, significantly outpacing revenue growth. This funding is primarily used for underlying system optimization, cross-generation development of self-developed chips, and technologies and ecological construction related to XR devices.

Third, Apple is promoting the integrated development of hardware, services, and new technologies.

High-end iPhone and Mac products maintain Apple's hardware base, while the 2.5 billion active devices contribute to service businesses, including the App Store, subscriptions, and advertising, providing the company with stable cash flow In terms of the application of new technologies, the company collaborates with external technology platforms and strengthens its computing and software capabilities through internal research and development and strategic acquisitions, thereby enhancing the overall product and service experience.

Looking back at the first fiscal quarter, Apple maintained a balance between controlling costs and expanding long-term investments, buffering short-term cost pressures through high-end product pricing while increasing R&D investment to support future growth. This robust and targeted strategy not only provides stable assurance for the management transition but also helps the company maintain market competitiveness in the future.

Risk Warning and Disclaimer

The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at one's own risk

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.