United states securities and exchange commission

Note 8 – Shareholders’ Equity
Share Repurchase Program
During 2022, the Company repurchased 569 million shares of its common stock for $90.2 billion under a share repurchase 
program authorized by the Board of Directors (the “Program”). The Program does not obligate the Company to acquire a 
minimum amount of shares. Under the Program, shares may be repurchased in privately negotiated and/or open market 
transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
Shares of Common Stock
The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands):
2022
2021
2020
Common stock outstanding, beginning balances
16,426,786
16,976,763
17,772,945 
Common stock repurchased
(568,589)
(656,340)
(917,270) 
Common stock issued, net of shares withheld for employee taxes
85,228
106,363
121,088 
Common stock outstanding, ending balances
15,943,425
16,426,786
16,976,763 
Note 9 – Benefit Plans
2022 Employee Stock Plan
In the second quarter of 2022, shareholders approved the Apple Inc. 2022 Employee Stock Plan (the “2022 Plan”), which 
provides for broad-based equity grants to employees, including executive officers, and permits the granting of restricted stock 
units (“RSUs”), stock grants, performance-based awards, stock options and stock appreciation rights. RSUs granted under the 
2022 Plan generally vest over four years, based on continued employment, and are settled upon vesting in shares of the 
Company’s common stock on a one-for-one basis. RSUs granted under the 2022 Plan reduce the number of shares available for 
grant under the plan by a factor of two times the number of RSUs granted. RSUs canceled and shares withheld to satisfy tax 
withholding obligations increase the number of shares available for grant under the 2022 Plan utilizing a factor of two times the 
number of RSUs canceled or shares withheld. All RSUs granted under the 2022 Plan have dividend equivalent rights (“DERs”), 
which entitle holders of RSUs to the same dividend value per share as holders of common stock. DERs are subject to the same 
vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 1.3 billion shares were authorized 
for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022.