Ternus Set for $58M Package, Cook's Pay Slashed Amid Apple Leadership Change

Apple has disclosed the compensation packages for its new CEO John Ternus and outgoing Executive Chairman Tim Cook. The company's filing with the Securities and Exchange Commission shows that Ternus will receive a $3 million annual base salary, as well as a stock grant with a target value of $55 million next year. This brings his total compensation package to approximately $58 million in fiscal 2027.

Ternus' equity award is based on Apple's performance relative to the S&P 500, with three-quarters tied to this metric and the remaining quarter tied to time-based stock units that vest semiannually. In contrast, Cook's annual salary will be reduced from $3 million to $2 million as part of his new role, while the target value of his 2027 stock package is $45 million.

Cook has said he plans to stay in his new role as executive chairman for a long time. As CEO, Cook's total pay package in 2025 was $74.3 million, and it remains to be seen how his compensation will change under the new structure.