From the ProRes white paper:
• Apple ProRes 4444: The new Apple ProRes 4444 codec preserves motion image sequences originating in either 4:4:4 RGB or 4:4:4 Y’CBCR color spaces. At its remarkably low data rate as compared to uncompressed 4:4:4 HD, Apple ProRes 4444 supports 12-bit pixel depth with an optional, mathematically lossless alpha channel for true 4:4:4:4 support. Apple ProRes 4444 preserves visual quality at the same high level as does Apple ProRes 422 (HQ), but for 4:4:4 image sources, which can carry the highest possible color detail.
Apple ProRes 4444 is ideal for next-generation video and the most pristine computer graphics sources for cinema-quality compositing. For projects that previously required the Animation codec, Apple ProRes 4444 is a modern replacement with real-time playback support in Final Cut Pro. Because color detail is preserved, Apple ProRes 4444 is ideal for color grading with 4:4:4 image sources.
• Apple ProRes 422 (HQ): Boasting widespread adoption across the video post- production industry, Apple ProRes 422 (HQ) offers visually lossless preservation of the highest-quality professional HD video that a (single-link) HD-SDI signal can carry. This codec supports full-width, 4:2:2 video sources at 10-bit pixel depths, while retaining its visually lossless characteristic through many generations of decoding and re-encoding.
Apple ProRes 422 (HQ) can be used both as an intermediate codec to accelerate workflows for complex, compressed video sources and as an affordable, high- performance alternative to uncompressed 4:2:2 video.
• Apple ProRes 422: Apple ProRes 422 offers nearly all the benefits of its big brother, Apple ProRes 422 (HQ), but at a significantly lower data rate. It provides visually lossless coding performance for the same full-width, 10-bit, 4:2:2 sequences as Apple ProRes 422 (HQ) with even better multistream RT editing performance.
• Apple ProRes 422 (LT): Like Apple ProRes 422 (HQ) and Apple ProRes 422, the new Apple ProRes 422 (LT) codec supports full-width 10-bit video sequences, but at a target data rate even lower than these siblings. Apple ProRes 422 (LT) weighs in at 100 Mbps or less, depending on the particular video format. It balances incredible image quality with small file sizes, and is perfect for digital broadcast environments where storage capacity and bandwidth are often at a premium.
Apple ProRes 422 (LT) is ideal for live multi-camera and on-location productions where large amounts of footage are acquired to disk. The low data rate of Apple ProRes 422 (LT) also makes it an excellent choice for transcoding complex camera codecs like AVCHD.
• Apple ProRes 422 (Proxy): The third new member of the Apple ProRes family is Apple ProRes 422 (Proxy). This codec maintains HD data rates below 36 Mbps, yet like its higher-rate Apple ProRes 422 siblings, it supports full-frame, 10-bit, 4:2:2 video.
Apple ProRes 422 (Proxy) is intended for draft-mode or preview uses where low data rates are required, yet full-resolution video is desired. It is the ideal format for use in offline editing workflows with Final Cut Server. The traditional offline-to-online workflow with Final Cut Pro has relied on the Offline RT codec, but today’s HD workflows demand offline video formats that support native frame size and aspect ratio. Apple ProRes 422 (Proxy) supports full 1920 x 1080 and 1280 x 720 resolutions, enabling full HD resolution while editing, and accurate representation of FCP motion effects from the creative stages through finishing.