Apple’s New CEO John Ternus to Receive $58 Million Pay Package
- John Ternus is set to receive $3 million in salary and a $55 million stock award for fiscal 2027.
- Tim Cook’s compensation as Apple’s executive chairman is expected to total around $47 million.
- The final value of their stock awards will depend on Apple’s share price and performance against the S&P 500.
Apple’s incoming chief executive, John Ternus, is set to receive a compensation package worth approximately $58 million for fiscal 2027, while outgoing CEO Tim Cook is expected to earn around $47 million in his new role as executive chairman.
The compensation details were disclosed in a filing with the US Securities and Exchange Commission. Apple announced in April that Cook would step down as CEO and move into the executive chairman position on the company’s board.
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Ternus will receive an annual base salary of $3 million, along with a stock grant carrying a target value of $55 million in 2027. He will also receive a prorated restricted stock unit award worth approximately $2.5 million for 2026.
Around 75% of Ternus’ equity award will be tied to Apple’s performance relative to the S&P 500. The remaining 25% will consist of time-based stock units scheduled to vest twice annually.
Cook’s annual salary will decrease from $3 million to $2 million after he becomes executive chairman. His 2027 stock package will have a target value of $45 million, with half of the equity award linked to Apple’s performance against the S&P 500.
Cook received total compensation of $74.3 million in 2025. However, the eventual value of both executives’ stock awards will depend on movements in Apple’s share price. The company has not disclosed whether either executive will receive additional cash bonuses.
On his final day as Apple CEO, Cook shared an emotional farewell message on X, thanking the company’s employees, customers and wider community. He said that although his title would change, his affection for the Apple community would remain the same as he prepared for the next chapter.
