Apple Reveals Compensation for New CEO John Ternus and Tim Cook

Apple has revealed the compensation packages for its new CEO John Ternus and outgoing leader Tim Cook as they transition roles. Ternus, who takes over on September 1st, will receive an annual salary of $3 million, a prorated restricted stock unit award with a target value of $2.5 million for fiscal 2026, and an annual equity award with a target value of $55 million for fiscal 2027.

Cook, who will become executive chairman on September 26th, 2026, will receive an annual salary of $2 million and an equity award with a target value of $45 million in fiscal 2027. Cook's compensation has historically been driven by stock awards, and his total pay for fiscal 2025 was $74.3 million.

The change marks a significant shift at Apple as Ternus takes over from Cook after 15 years leading the company. Ternus joined Apple in 2001 and oversaw hardware engineering across various products including iPhones, iPads, Macs, and more.