Tech

Here's what is on the agenda at Apple's shareholder meeting on Tuesday

Tim Cook
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Apple is set to re-elect its board and sign off on some hefty paychecks on Tuesday, and in the process, will have to field some fastball questions on diversity and charitable giving.

The iPhone maker's annual meeting will gather representatives of its 26,000 shareholders for mostly routine tasks like reviewing auditor fees and CEO Tim Cook's $8.75 million annual compensation for 2016.

Shareholders are expected to re-elect eight members of Apple's board of directors — Cook, former Boeing chief financial officer James Bell, venture capitalist and vice president Al Gore, Disney CEO Bob Iger, former Avon Products CEO Andrea Jung, Alphabet biotech executive Art Levinson, former Northrop Grumman CEO Ron Sugar, and BlackRock co-founder Sue Wagner.

Also on the agenda are a series of proposals from shareholders that hold $2,000 of Apple's stock, which must be approved by a form of majority vote.

Apple opposes most of the proposals, which are unlikely to pass. But they give the company's enthusiasts a chance to publicly needle executives on the issues that are facing the technology sector, said shareholder Tony Maldonado, who is re-submitting a proposal this year that Apple should increase the diversity of senior management and its board of directors.

The meeting will force one of the world's richest companies to grapple with issues like immigration, transgender rights and gender equality that have made headlines across Silicon Valley, Maldonado said.

Another proposal urges Apple to give increased disclosure of charitable contributions to shareholders, noting the company's donations to "leftist" organizations like the Center for American Progress and Clinton Foundation. Apple opposes this proposal, noting its biggest contributions toward causes like education, AIDS prevention, and conservation.

Other proposals focus on executive compensation — with one shareholder suggesting more independent oversight of the top brass, and another pushing more stock incentives for leaders.

Another shareholder proposal takes aim at the Cupertino company's massive size, noting that even if the 20 largest public pension funds were able to aggregate their shares of Apple, it would be difficult to meet certain thresholds to nominate a director to Apple's board.

To be sure, Cook's multi-million salary is far from the biggest in Silicon Valley — or even in his own company. Chief financial officer Luca Maestri and Apple software chief Eddy Cue both made about $22.8 million last year.

By contrast, Google CEO Sundar Pichai made about $100.6 million in 2015, while Alphabet chief financial officer Ruth Porat made about $31 million.

Here's the full set of shareholder proposals: