Ternus Takes Over at Apple: New CEO's Compensation Package Revealed

Apple has revealed the compensation details for its new CEO, John Ternus, and outgoing CEO, Tim Cook. As reported in a filing submitted to the US Securities and Exchange Commission (SEC), Ternus's target compensation for this fiscal year is approximately $58 million.

Ternus will receive an annual salary of $3 million and a stock award valued at $55 million for the coming year. In comparison, Cook will earn a total compensation of nearly $47 million as Executive Chair, with an annual salary of $2 million and a projected stock award valued at $45 million.

It is worth noting that Ternus's compensation package includes performance-based restricted stock units (RSUs) tied to Apple's total shareholder return compared to other companies in the S&P 500 index. Cook's stock grant for the 2027 fiscal year will consist of both performance-based and time-based RSUs, with half subject to performance targets.

Ternus has taken over as CEO from Tim Cook, who led the company for 15 years and oversaw a significant increase in Apple's valuation from $350 billion to over $4.5 trillion during his tenure.