Apple Sets $58M Pay Target for New CEO Ternus Amid Cook's Transition

Apple has disclosed its new CEO John Ternus's compensation package, which is worth around $58 million for fiscal 2027. This includes a $3 million annual base salary and a stock grant with a target value of $55 million. The equity award consists of both performance-based restricted stock units (75%) and time-based RSUs (25%), with the former vesting based on Apple's total shareholder return relative to other S&P 500 companies.

Ternus will also receive a one-time, prorated RSU award worth about $2.5 million for his partial-year service as CEO in fiscal 2026.

Meanwhile, outgoing CEO Tim Cook is stepping down and becoming Executive Chairman, with an annual salary of $2 million and a target equity award value of $45 million. Half of Cook's equity will be performance-based, while the other half will vest based on time.