On January 6, 2017, Apple Inc. announced that it has received a shareholder proposal from Kenneth Steiner urging that the Company’s executive pay committee adopt a policy requiring senior executives to retain a significant percentage of stock acquired through equity pay programs until reaching normal retirement age and to report to shareholders regarding the policy before the Company’s next annual meeting. Kenneth Steiner also stated that for the purpose of this policy, normal retirement age would be an age of at least 60 and be determined by our executive pay committee and recommended a share retention percentage requirement of 75% of net after-tax shares.