Ternus Lands $58 Million Compensation Package as Apple's New CEO

Apple's new CEO John Ternus has received a compensation package worth around $58 million for his first fiscal year. This includes a base salary of $3 million and stock awards valued at $55 million.

The majority of Ternus' stock awards are tied to Apple's performance compared with other companies in the S&P 500, with 75% being performance-based. The remaining 25% will vest over a four-year period.

Former CEO Tim Cook's compensation has also been adjusted following his transition to Executive Chairman. His annual base salary will be reduced to $2 million and he will receive $45 million in stock awards, divided equally between performance-based and time-based grants.