Delivering Sustainable Investments Since 1982SM

Trillium News

December 19, 2012

Trillium Withdraws Shareholder Proposal at Apple Inc.

In response to Trillium’s recent shareholder proposal regarding privacy issues, Apple Inc. (NASDAQ: AAPL) has updated its Board’s Audit and Finance Committee charter to include responsibility regarding regulatory, legislative, and reputational privacy risks that confront the company.

Trillium’s proposal, which highlighted the business and social privacy risk and impacts that come with handling personal information, sought more clarity regarding Board oversight of these issues. The improvements to Apple Inc.’s governance will help the company protect the privacy of its customers and the wellbeing of the company. Accordingly, Trillium is pleased to withdraw the shareholder proposal.

“We very much appreciated having a productive dialogue with the company which resulted in a fundamental improvement to the company’s critically important governance structure. By incorporating privacy into its committee charter Apple’s board of directors has acted in the best interests of the company, its shareholders and society”, said Jonas Kron, Trillium’s Director of Shareholder Advocacy & Corporate Engagement. “This kind of positive dialogue between a company and its shareholders is a great example how active investors can benefit the company and its stakeholders”, Kron continued.

Trillium’s original shareholder proposal can be found here.

Apple’s new committee charter can be found here.

An overview of Trillium’s corporate engagement with Apple can be viewed here.

####

The views expressed are those of the authors as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this material should not be considered a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the authors on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.