Apple Sets Compensation Packages for Ternus and Cook

Apple has disclosed the compensation packages for its new CEO John Ternus and outgoing CEO Tim Cook. In fiscal year 2027, Ternus will receive a $58 million package, consisting of a $3 million annual base salary and a stock grant with a target value of $55 million.

The compensation package for Cook as executive chairman will be around $47 million in fiscal year 2027. His new role comes after a 15-year tenure at Apple under which the company expanded into new products and boosted its revenue to nearly half a trillion dollars, resulting in a stock gain of over 2,200%.

Ternus' pay will be tied to Apple's performance, with three-quarters of his equity award based on the company's performance compared to the S&P 500. The remaining quarter will be time-based stock units that vest semiannually.

Cook's annual salary has been reduced from $3 million to $2 million as part of his new role, and the target value of his 2027 stock package is $45 million. His pay will be less tied to Apple's performance, with only half being linked to the S&P 500.