Apple has disclosed the compensation packages for new CEO John Ternus and executive chairman Tim Cook, giving investors the first detailed look at how the company will pay its top leadership following the CEO transition. Ternus will receive a package with a target value of about $58 million for fiscal 2027, while Cook’s new compensation package will carry a target value of roughly $47 million.
Apple revealed the figures in a new filing with the U.S. Securities and Exchange Commission. Ternus will receive a $3 million annual base salary and an equity award with a target value of $55 million starting in fiscal 2027, with most of that stock compensation tied directly to Apple’s performance.
| Executive | Base salary | Fiscal 2027 stock award | Target package |
|---|---|---|---|
| John Ternus | $3 million | $55 million | $58 million |
| Tim Cook | $2 million | $45 million | $47 million |
Most of Ternus’s stock award depends on Apple’s performance
Around 75% of Ternus’s $55 million equity award, worth about $41.25 million at its target value, will come through performance-based restricted stock units. Apple will measure those shares using the company’s total shareholder return compared with other companies in the S&P 500.
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The remaining 25%, worth about $13.75 million, will consist of time-based restricted stock units that vest at a rate of 12.5% every six months over four years. Ternus will also receive prorated stock awards worth about $2.5 million for the part of fiscal 2026 that he serves as CEO.
Bloomberg reports that Apple never disclosed Ternus’s previous compensation as senior vice president of hardware engineering, although executives at that level typically received around $25 million annually when salary, stock and bonuses were included.
Cook, meanwhile, will receive a $2 million annual salary in his executive chairman role, down from his previous $3 million salary as CEO. His $45 million fiscal 2027 equity award will split evenly between performance-based and time-based stock.
Cook received total compensation of about $74.3 million for fiscal 2025 as CEO, including salary, stock awards, incentives and other benefits. His salary and stock awards alone totaled roughly $60.5 million that year.
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