Apple Sets Record-Breaking Pay Packages for New and Outgoing CEOs

Apple has set its new CEO John Ternus's compensation package at nearly ₹551 crore, making it one of the largest payouts in the company's history. According to a filing with the US Securities and Exchange Commission, Ternus will receive an annual base salary of $3 million along with a stock grant carrying a target value of $55 million for fiscal 2027.

The bulk of Ternus's equity award is tied to performance: three-quarters of the stock grant will vest based on Apple's total shareholder return measured against other S&P 500 companies, while the remaining quarter consists of time-based units vesting in installments over four years.

Outgoing CEO Tim Cook, who has moved into the newly created role of executive chairman, will draw a compensation package of approximately $47 million (roughly Rs. 446 crore). Cook's annual salary drops from $3 million to $2 million, and his fiscal 2027 stock package carries a target value of $45 million.