Apple Grants Stock Awards to Tim Cook, John Ternus Amid Industry Shifts

Tim Cook, Apple's executive chair, and John Ternus, the company's new CEO, have been granted stock awards by the tech giant. According to filings with the U.S. Securities and Exchange Commission, Cook received 131,938 restricted stock units (RSUs), while Ternus got 161,258 RSUs. The company also awarded 95,290 RSUs to Khan Sabhi, its chief operating officer.

The stock awards come at a time when Apple is undergoing operational changes under Ternus' leadership. Cook led the company as CEO from 2011 until September this year and helped grow Apple's market value from $346.4 billion to roughly $5 trillion during his tenure. As executive chair, Cook will maintain oversight of Apple's government relations.

Ternus, on the other hand, has been leading product development changes at Apple. His recent unveiling of the company's foldable iPhone Duo marks a significant design shift since the iPhone X debut in 2017. With soaring memory costs in the industry, it remains to be seen how both executives will perform.