Apple Appoints Kevan Parekh as Chief Financial Officer

On December 30, 2024, Apple Inc. (NASDAQ: AAPL) filed a Form 8-K with the Securities and Exchange Commission, announcing the appointment of Kevan Parekh as the company’s new Senior Vice President and Chief Financial Officer, effective January 1, 2025. Parekh, aged 53, will be succeeding Luca Maestri in this key financial role at Apple.

Parekh has been associated with Apple since June 2013, and has held various significant positions within the company, including Vice President of Financial Planning and Analysis and Vice President of Finance for Sales, Marketing, and Retail. Prior to his tenure at Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors.

Along with his new role, Apple has increased Parekh’s annual salary to $1 million, effective January 1, 2025. Parekh will also be eligible to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025, with a target opportunity of 175% of his base salary based on his performance in his respective roles during the fiscal year.

As part of his compensation package, Parekh has been granted performance-based restricted stock units (RSUs) and time-based RSUs under the Apple Inc. 2022 Employee Stock Plan. The performance-based RSUs are scheduled to vest on October 1, 2027, while the time-based RSUs will vest in equal portions on April 1, 2027, April 1, 2028, and April 1, 2029, subject to the terms of the award agreements.

Apple and Parekh have entered into the standard indemnification agreement for executive officers. Notably, there are no familial relationships between Parekh and any director or executive officer of Apple that necessitate disclosure, and there have been no relevant transactions between Parekh and Apple requiring disclosure as per regulatory requirements.

The Form 8-K also indicated that the filing did not serve as a communication under Rule 425, a solicitation under Rule 14a-12, or pre-commencement communication under Rules 14d-2(b) and 13e-4(c) of the Securities Exchange Act of 1934.

Lastly, on January 3, 2025, Apple’s Senior Vice President, General Counsel, and Secretary, Katherine Adams, signed the document on behalf of the company, in accordance with the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Apple’s 8K filing here.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.