Ternus and Cook's Compensation Packages Revealed by Apple

Apple has revealed its compensation targets for new CEO John Ternus and Executive Chairman Tim Cook in an SEC filing. According to Bloomberg News, Ternus's fiscal 2027 compensation package is worth about $58 million. This includes a $3 million annual base salary and a stock grant with a target value of $55 million. The equity award has a performance-based component, making up 75% of the total, which will vest based on Apple's total shareholder return relative to other S&P 500 companies.

The remaining 25% of Ternus's equity award is time-based RSUs that vest semiannually in equal 12.5% installments over four years. Additionally, he received a one-time prorated RSU award with a target value of about $2.5 million for his partial-year service as CEO in fiscal 2026.

Cook, who is stepping down after a 15-year run as CEO, will receive an annual salary of $2 million and a target equity award value of $45 million in his new role as executive chairman. Half of Cook's equity will be performance-based and half time-based. His total compensation as CEO in 2025 was $74.3 million.