Ternus to Pocket $58 Million Pay Package as Apple's New CEO

Apple's new CEO John Ternus is set to receive a hefty compensation package worth around $58 million in fiscal year 2027, according to reports. This includes an annual base salary of $3 million and a stock award with a target value of $55 million. Additionally, he will receive a prorated restricted stock unit award worth approximately $2.5 million for the previous fiscal year.

About 75% of Ternus' equity award is tied to Apple's performance relative to the S&P 500, while the remaining 25% consists of time-based stock units that vest semiannually. This means his compensation will fluctuate with Apple's share price.

In comparison, outgoing CEO Tim Cook is set to receive around $47 million in his new role as executive chairman. His annual salary will fall to $2 million from $3 million, but his 2027 stock award will have a target value of $45 million.