Kevan Parekh
Also at Apple Inc
About
Kevan Parekh is the Chief Financial Officer and Senior Vice President at Apple Inc., currently aged 53. He is recognized for his extensive background in financial leadership and management, overseeing key functions such as accounting, treasury, investor relations, internal audit, and tax functions.
He began his career at Apple in June 2013, where he held several critical roles including Vice President of Financial Planning and Analysis as well as Vice President of Worldwide Finance for Sales, Marketing, and Retail. His contributions in these roles paved the way for his seamless transition into the executive leadership team.
His appointment as CFO on January 1, 2025 marked a significant milestone in his career as he succeeded his predecessor with a focused approach on enhancing financial strategy and operational excellence at Apple.
Prior to his tenure at Apple, he held senior leadership positions at Thomson Reuters and General Motors, where he honed his skills in managing large-scale financial operations. This diverse experience has been instrumental in shaping his approach to driving the company’s financial success.
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Apple Inc. | Vice President, Worldwide Finance for Sales, Marketing, and Retail | N/A | Held before becoming Chief Financial Officer (CFO) |
| Apple Inc. | Vice President, Financial Planning and Analysis | N/A | Held before becoming Chief Financial Officer (CFO) |
| Thomson Reuters | Senior Leadership Role | N/A | Held prior to joining Apple |
| General Motors | Senior Leadership Role | N/A | Held prior to joining Apple |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,000,000 | Annual, effective January 1, 2025 | Fixed annual base salary |
| Time-Based RSUs | 36,767 RSUs | Vest in equal installments on April 1, 2027, April 1, 2028, and April 1, 2029 | Awarded under the Apple Inc. 2022 Employee Stock Plan |
Performance Compensation
Annual Cash Incentive Plan
| Metric | Details |
|---|---|
| Performance Measures | Net Sales and Operating Income |
| Payout Structure | Threshold: 50% of the target payout <br>Target: 100% of the annual base salary ($1,000,000) <br>Maximum: 200% of the target payout |
| Target Opportunity | 175% of base salary, prorated for fiscal 2025 |
| Evaluation Period | Fiscal Year 2025 |
| Payout Calculation | Linear interpolation between threshold and target; no payout if threshold is not achieved |
Performance-Based RSUs
| Metric | Details |
|---|---|
| Performance Measure | Relative Total Shareholder Return (TSR) versus companies in the S&P 500 |
| Evaluation Period | September 29, 2024 – September 25, 2027 |
| Vesting Schedule | Scheduled to vest on October 1, 2027 |
| Vesting Conditions | Below 25th percentile: 0% of RSUs vest <br>25th percentile: 25% of RSUs vest <br>55th percentile (Target): 100% of RSUs vest <br>85th percentile or above: 200% of RSUs vest <br>If TSR is negative, vesting is capped at 100% |
| Grant Details | Grant Date: Not explicitly specified (similar awards granted on October 1, 2023) <br>Grant Date Fair Value/Stock Price: Not provided |
| Additional Details | Dividend equivalents are payable only if performance conditions are met; TSR is calculated using a 20-trading-day averaging period |