1. Tuesday, Icahn said he wants the buyback to happen when Apple shares hit $525.

2. In April, the company increased the buyback pot to $60 billion, which is to be spent through 2015.

3. The firm is in the middle of a share buyback program.

4. It is a long time between now and October, when the first buyback checks are expected to be cut.

5. If the buyback is approved, it would be the largest in history by a wide margin.

6. Icahn sent Cook a letter last month pushing the board to increases its stock buyback plan.

7. So there is no shortage of cash to fund the new buyback program, which has no specific time frame.

8. The buyback was announced after the market closed yesterday.