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Apple Computer, Inc. (Nasdaq: AAPL) appointed Dr. Eric Schmidt, Google (Nasdaq: GOOG) CEO, to its Board of Directors. There are no relationships or related transactions between Dr. Schmidt and the Company that would be required to be reported under Section 404(a) of Regulation S-K. Dr. Schmidt has been appointed to the Special Committee of the Board.
In connection with his appointment, Dr. Schmidt has declined the automatic stock option grant to purchase 30,000 shares to which new directors are entitled under the Company's 1997 Director Stock Option Plan, and instead intends to purchase 10,000 shares of the Company's common stock on the open market.
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