Arjuna Capital, on behalf of Apple Inc. shareholders, has submitted a proxy proposal urging a vote in favor of Proposal 6, which calls for Apple to report on median pay gaps across race and gender. The proposal, to be voted on at Apple's 2024 Annual Meeting, highlights the importance of disclosing unadjusted median pay gaps to provide a clear picture of pay equity within the company. Arjuna Capital argues that while Apple has made progress in diversity and pay audits, these measures do not replace the need for median pay gap disclosures. The proposal outlines the benefits of transparency in pay gaps, citing studies and examples of other companies that have reported narrower pay gaps and improved diversity after disclosing them...Show More

Arjuna Capital, on behalf of Apple Inc. shareholders, has submitted a proxy proposal urging a vote in favor of Proposal 6, which calls for Apple to report on median pay gaps across race and gender. The proposal, to be voted on at Apple's 2024 Annual Meeting, highlights the importance of disclosing unadjusted median pay gaps to provide a clear picture of pay equity within the company. Arjuna Capital argues that while Apple has made progress in diversity and pay audits, these measures do not replace the need for median pay gap disclosures. The proposal outlines the benefits of transparency in pay gaps, citing studies and examples of other companies that have reported narrower pay gaps and improved diversity after disclosing them. Apple's Board has opposed the proposal, stating that statistically-adjusted pay numbers and representation data are adequate. However, Arjuna Capital contends that these do not offer a comprehensive view of equal opportunity within the company. The solicitation emphasizes the long-term financial benefits to shareholders of narrowing pay gaps and improving diversity.