Apple today announced that its 2008 proxy materials are now available on the web under the US Securities and Exchange Commission’s new Notice and Access rule and can be found at http://www.apple.com/investor. As a result of the new Notice and Access rule, Apple is able to significantly reduce the environmental impact of producing and delivering printed materials.
Apple’s shareholders may still obtain a hard copy of the proxy materials free of charge by following the instructions provided on http://www.apple.com/investor or in the Notice of Internet Availability of Proxy Materials that will be mailed to Apple’s beneficial shareholders as of January 15, 2008. Apple’s 2007 Form 10-K was filed on November 15, 2007 and may also be viewed at http://www.apple.com/investor.
Anyone want to explain what this is?
A bold sales prediction by Apple … but after last year these predictions are plausible.
Notice and Access is a new SEC annual report distribution model. Prior to this year, publicly held companies had to mail, at minimum, printed copies of Form 10-K (the annual report), proxy card, etc. to shareholders for them to review before the annual shareholder meeting. The new Notice and Access model allows them to post these materials online and notifying shareholders they are available instead of printing and mailing everything to everybody.
Please, what does this mean “mailed to Apple’s beneficial shareholders.” What is a “beneficial shareholder”?
A beneficial shareholder is a shareholder who enjoys the benefits of ownership even though the title is kept in the name of a broker/dealer, bank nominee or custodian fund. When shares are kept in this manner, it is often referred to as keeping the shares in “Street Name.”
On the other hand, a registered shareholder is a shareholder who holds shares directly in their name, in certificate or book-entry form, and is listed on the records of a corporation as owning the shares of the corporation.