Ternus' Apple Pay: New CEO Lands $55M Equity Award

Apple has revealed the compensation package for its new CEO, John Ternus. The deal includes a salary, restricted stock units (RSUs), and an annual equity award with a target value of $55 million.

The largest component of Ternus' package is the annual equity award, which will be granted in fiscal 2027. This award consists of two parts: 75% performance-based RSUs that will vest based on Apple's total shareholder return relative to other companies in the S&P 500, and 25% time-based RSUs that will vest semiannually over four years.

In addition to Ternus' compensation package, Apple also disclosed details of Tim Cook's new role as Executive Chair. Cook's annual salary will be $2 million, effective September 26, 2026, and he will receive a $45 million target-value equity award for fiscal 2027.