Ternus Takes the Helm at Apple with $58 Million Compensation Package

Apple has made public its compensation packages for new CEO John Ternus and outgoing leader Tim Cook. According to a filing with the Securities and Exchange Commission, Ternus will receive a total of $58 million in fiscal 2027. This includes a $3 million annual base salary and a stock grant worth up to $55 million next year.

Ternus' equity award will be split into two parts: three-quarters will be based on Apple's performance relative to the S&P 500, while the remaining quarter will vest semiannually. Cook, who is handing over the reins after 15 years at the helm, will see his annual salary drop from $3 million to $2 million and his target stock package value fall to $45 million.

Cook's total pay package in 2025 as CEO was $74.3 million. As executive chairman, Cook said he plans to stay on for a long time, but the details of his compensation will be less tied to Apple's performance compared to Ternus'. The value of both executives' grants will fluctuate based on Apple's stock price.