Ternus Lands $58M Apple Pay Package Amid Tim Cook's Transition

Apple has announced its new CEO's compensation package, which is set to reach around $58 million in fiscal 2027. John Ternus will receive a base salary of $3 million annually and a stock grant with a target value of $55 million next year.

Ternus' equity award will be based on Apple's performance relative to the S&P 500, with three-quarters of the value tied to this metric. The remaining quarter will vest semiannually as time-based stock units.

Apple's outgoing CEO, Tim Cook, will assume a new role as executive chairman and receive an annual salary reduced from $3 million to $2 million. His target value for the 2027 stock package is set at $45 million.