Apple Hands John Ternus $55M Stock Grant Tied to Company Performance

Apple's new CEO, John Ternus, has been granted an annual stock award of $55 million. The grant will be awarded in the form of Apple shares and its value will depend on how the company's stock performs relative to other companies in the S&P 500 index.

The majority of Ternus's total compensation will come from this stock grant, as his base annual salary is set at $3 million. This means that even if he holds a small stake in Apple, he will become a shareholder and benefit directly from the company's performance.

The practice of making executives shareholders is common among large companies, as it aligns their compensation with the company's long-term results. If Apple's stock price rises, Ternus's income will also increase, while a decline in stock value will impact his compensation.