Apple Sets $58 Million Pay for CEO John Ternus as Tim Cook Shifts to $47 Million Chairman Role
Updated
Updated · Yahoo Finance · Sep 2
Apple Sets $58 Million Pay for CEO John Ternus as Tim Cook Shifts to $47 Million Chairman Role
3 articles · Updated · Yahoo Finance · Sep 2
Summary
Apple said John Ternus will receive about $58 million in target compensation on his first day as CEO, including a $3 million salary, a $55 million fiscal 2027 equity award and a $2.5 million prorated 2026 RSU grant.
Three-quarters of Ternus's annual equity is performance-based and tied to Apple's total shareholder return versus the S&P 500, while the remaining 25% vests in equal semiannual installments over four years.
Tim Cook, who moved to executive chairman on Tuesday, will get roughly $47 million in target pay starting Sept. 26—$2 million in salary plus a $45 million equity award split evenly between performance-based and time-based RSUs.
The filing did not specify cash bonuses for either executive and showed Cook's salary falling from $3 million; his total CEO pay package for 2025 was $74.3 million.
Ternus, 51, succeeds Cook after an April-announced succession plan and faces his first major test on Sept. 9, when Apple is expected to unveil new iPhones, Apple Watches and an LLM-powered Siri.