Apple Sets $58 Million Pay for CEO John Ternus as Tim Cook Takes $45 Million Chair Award
Updated
Updated · Deadline · Sep 2
Apple Sets $58 Million Pay for CEO John Ternus as Tim Cook Takes $45 Million Chair Award
3 articles · Updated · Deadline · Sep 2
Summary
$58 million is Apple’s disclosed compensation package for new CEO John Ternus, who formally succeeded Tim Cook on Tuesday, combining a $3 million annual salary with $55 million in fiscal-2027 equity grants.
75% of Ternus’ equity will be performance-based RSUs tied to Apple’s total shareholder return versus S&P 500 peers, while the remaining 25% will vest over four years; he also received a prorated $2.5 million RSU award for fiscal 2026.
Cook’s new executive chairman contract sets a $2 million annual salary effective Sept. 26 and a fiscal-2027 equity award with a target value of $45 million, according to Apple’s SEC filing.
April’s succession plan made Ternus—Apple’s hardware chief and a 25-year company veteran—Cook’s chosen successor after 15 years as CEO, with Ternus set to address employees and fans at Apple’s Sept. 9 'Surprise and Shine' event.