Here are your Apple rumors and AAPL news items for today:

Early Arrival: Apple (NASDAQ:AAPL) will unveil the iPhone 5S and a new, less expensive iPhone this summer, AppleInsider notes. The iPhone 5S is expected to be an update to the existing iPhone 5, but will be compatible with China Mobile‘s (NYSE:CHL) network technology, according to Chinese media reports. Instead of multiple versions of the phone, designed to work with separate wireless technology standards used by different carriers, Apple will make only one iPhone 5S, using Qualcomm‘s (NASDAQ:QCOM) latest LTE chips. Those chips are compatible with all current mobile systems worldwide. China Mobile is the world’s largest wireless carrier. Foxconn will manufacture the iPhone 5S exclusively. The cheaper iPhone will be manufactured by both Foxconn and Pegatron, but will only work with some LTE technologies. Rumors of a less expensive iPhone, targeted at emerging markets, have circulated for months.

High Stakes: Apple executives are now required to hold Apple shares worth at least three times their base salaries, the Wall Street Journal noted. The new policy was adopted last month. The company’s board had previously opposed the policy, which had been proposed by the California Public Employees’ Retirement System (CALPERS), a major institutional investor. Executives have five years to meet the new stipulation. Apple’s CEO has been required to hold company shares worth 10 times his base salary for some time.

Delay: Flexible and curved glass displays using Corning‘s (NYSE:GLW) Willow glass won’t be available for at least three years, Bloomberg notes. Willow glass can be manufactured in rolls, like paper. The company has spent $800 million to build a factory in China to produce the glass. Corning produces glass used in a number of Apple products. Apple is reportedly working on a wristwatch that would use curved or flexible glass. Corning says that some “big name” clients are currently learning how to work with Willow glass.

For more about the company, check out our previous Apple Rumors stories.