Apple Reveals Compensation Packages for New CEO and Executive Chairman

Apple has disclosed its compensation packages for new CEO John Ternus and Executive Chairman Tim Cook. According to the company's filing with the US Securities and Exchange Commission, Ternus will receive a total compensation package worth around $73 million in fiscal 2027. This includes an annual base salary of $3 million and a stock grant with a target value of $55 million.

The majority of Ternus' equity award, three-quarters, is tied to Apple's performance relative to the S&P 500. The remaining quarter will be based on time-based stock units that vest semi-annually. In contrast, Cook's compensation package has been reduced, with his annual salary decreasing from $3 million to $2 million.

Cook's new role as Executive Chairman will come with a total compensation package worth around $59 million in fiscal 2027. His pay will be less tied to Apple's performance, with only half of it linked to the S&P 500. The value of both executives' compensation packages will fluctuate based on Apple's stock price.