Ternus Inherits $58M Package, Cook Retains $47M Equity as Apple CEO Transition Unfolds

Apple's new CEO, John Ternus, will take over on September 1, 2026. His compensation package for fiscal year 2027 is a total of $58 million.

The base salary is $3 million annually, while the equity award is $55 million, consisting of 75% performance-based RSUs and 25% time-based RSUs. The performance metric is Apple's total shareholder return versus other S&P 500 companies.

Ternus's upside is directly tied to Apple's outperformance, with no guaranteed windfall independent of results. The time-based shares vest 12.5% every six months over four years, while the performance-based portion rises or falls with how Apple's stock holds up against the broader market.

Meanwhile, outgoing CEO Tim Cook will retain a $47 million equity package as executive chairman. His new $2 million salary takes effect September 26, paired with a $45 million equity award split 50% performance-based and 50% time-based, on the same vesting schedule as Ternus.

This means that if you hold Apple shares, Ternus's pay structure now aligns directly with your returns. His upside depends on Apple outperforming the S&P 500, not simply occupying the chair.