Apple has disclosed the compensation packages for its new CEO John Ternus and former CEO Tim Cook, following a major leadership transition at the technology giant.
Ternus officially became Apple's chief executive on September 1, 2026, succeeding Cook, who has moved into the newly created role of executive chairman. Apple had announced the transition earlier this year as part of its long-term succession plan.
For fiscal 2027, Ternus has been given a target compensation package of approximately $58 million. The package consists primarily of equity rather than traditional salary.
John Ternus Salary and Stock Award
Ternus will receive an annual base salary of $3 million. His targeted equity award for fiscal 2027 is valued at approximately $55 million.
The stock component is performance-linked, meaning the final value Ternus receives can vary depending on Apple's performance and the terms of the award. According to reports, 75% of the equity award consists of performance-based restricted stock units, while the remaining 25% is made up of time-based restricted stock units.
Ternus will also receive a prorated restricted-stock award worth about $2.5 million for fiscal 2026.
Tim Cook's New Compensation
After more than 15 years as Apple's CEO, Tim Cook has moved to the position of executive chairman.
Cook's fiscal 2027 compensation target is approximately $47 million, consisting of a $2 million annual salary and a targeted $45 million equity award.
The package reflects Apple's intention to retain Cook in a significant leadership and oversight role even after he steps down as CEO.
A Major Leadership Change at Apple
The transition from Cook to Ternus marks only the second CEO change at Apple this century, making it a significant moment in the company's history. Ternus joined Apple in 2001 and most recently served as senior vice president of Hardware Engineering. Apple officially announced in April that he would succeed Cook from September 1, 2026.
Ternus has played an important role in Apple's hardware development and has been closely involved with products including the iPhone, iPad and Mac.
What the Pay Packages Show
The compensation structure highlights Apple's emphasis on long-term performance and shareholder returns. While Ternus' $3 million salary is relatively modest compared with the headline $58 million figure, the vast majority of his potential compensation comes from stock awards.
Meanwhile, Cook's $47 million target package shows that Apple continues to place substantial value on his experience as he takes on the executive chairman role.
The leadership transition now places Ternus at the centre of Apple's next phase, while Cook remains closely involved in the company's strategic direction
