Apple Hands Ternus $58M Pay Package, Cook Gets $47M as Executive Chairman
Apple Inc.'s new CEO John Ternus will receive a compensation package worth approximately $58 million in fiscal year 2027, according to a recent filing with the Securities and Exchange Commission.
The company disclosed that Ternus' annual base salary will be $3 million moving forward, while he will also receive a stock grant with a target value of $55 million next year. This equates to about three-quarters of his total compensation being tied to Apple's performance relative to the S&P 500.
Former CEO Tim Cook is taking on the role of executive chairman and will receive around $47 million in fiscal 2027. His annual salary has been reduced from $3 million to $2 million as part of this new role, while his target stock package value for 2027 stands at $45 million.
Cook's total pay package as CEO in 2025 was $74.3 million, and the value of his new grants will fluctuate based on Apple's stock price. The exact amount of cash bonuses for both executives is not specified, although these are typically valued at about double their base salary.