Apple Outlines Compensation for Ternus and Cook Amid Leadership Transition
Apple has outlined the compensation for its new CEO John Ternus and outgoing CEO Tim Cook in a regulatory filing. Ternus will earn an annual salary of $3 million, while his prorated restricted stock unit award is valued at $2.5 million for fiscal 2026, with an additional annual equity award worth $55 million for fiscal 2027.
Ternus took over as CEO on September 1, succeeding Cook after 15 years in the role. He joined Apple in 2001 and has overseen hardware engineering across various products. Meanwhile, Cook will become executive chairman, earning an annual salary of $2 million effective September 26, 2026.
The new packages for top leadership focus on long-term equity incentives, with Ternus' compensation structure similar to Cook's recent pay despite the change in roles.