Archive · 3 Sep 2026
Apple Sets $3 Million Salary, $55 Million Award for Ternus
Apple has a new chief executive named John Ternus.
The company will pay him $3 million each year as a salary.
He may also receive stock awards targeted at $55 million for fiscal 2027.
Most of that award depends on how Apple’s shareholder returns compare with companies in the S&P 500.
The rest will be given to him gradually over four years.
Ternus will also receive a separate stock award targeted at $2.5 million for the time he serves as CEO in fiscal 2026.
Former CEO Tim Cook will receive a $2 million salary.
Cook will also receive a targeted $45 million stock award for fiscal 2027.
Reports describe Cook’s total fiscal 2027 compensation as about $47 million.
Apple will pay new CEO John Ternus an annual salary of $3 million.
Ternus will receive a targeted $55 million equity award for fiscal 2027.
Seventy-five percent of Ternus’s fiscal 2027 award will be performance-based restricted stock units.
The remaining 25% will be time-based units vesting semiannually in equal installments over four years.
Former CEO Tim Cook will receive a $2 million salary and $45 million targeted equity award for fiscal 2027.
- Who
- Apple, new CEO John Ternus, and former CEO Tim Cook.
- What
- Apple disclosed salary and targeted equity compensation packages for Ternus and Cook.
- When
- The details were disclosed Tuesday, the first day of Ternus’s tenure. Ternus’s salary took effect that day, while Cook’s salary is effective Sept. 26.
- Where
- In a filing with the U.S. Securities and Exchange Commission.
- Why
- To establish compensation arrangements for Apple’s new CEO and former CEO.
- Ternus annual salary
- $3 million
- Ternus fiscal 2027 targeted equity
- $55 million
- Ternus performance-based equity
- 75% of the fiscal 2027 targeted award, tied to Apple’s total shareholder return relative to S&P 500 companies
- Ternus time-based equity
- 25% of the fiscal 2027 targeted award, vesting semiannually in equal 12.5% installments over four years
- Ternus fiscal 2026 award
- Prorated restricted stock units with a target value of $2.5 million
- Cook annual salary
- $2 million, effective Sept. 26
- Cook fiscal 2027 targeted equity
- $45 million; reports describe his total package as about $47 million
