Apple reveals salary of new CEO John Ternus and executive chair Tim Cook, details here

Apple has disclosed the pay package for newly appointed CEO John Ternus, while also changing how much Tim Cook will earn as he switches to the role of executive chairman at the company. Both Ternus and Cook are going to receive stocks worth millions of dollars, as per a new filing.Apple has disclosed the new compensation packages for executive chairman Tim Cook and new CEO John Ternus. (Photos: Apple)Apple has just kickstarted a new era with John Ternus taking the reins from Tim Cook. As John Ternus leads the company as CEO, Apple has disclosed the new pay packages for Ternus and Cook, who is taking up a new role. Apple’s new CEO has a target compensation of about $58 million (roughly Rs 551 crore) for this fiscal year, while Tim Cook will receive about $47 million (roughly Rs 446 crore) as executive chairman.In a new filing with the US US Securities and Exchange Commission (SEC) on Tuesday, Apple disclosed the new compensation packages for Ternus and Cook. The filing was made on the same day John Ternus began his tenure as CEO at the company.How much are John Ternus and Tim Cook earning at Apple?In simple terms, Ternus' package is made up of a $3 million annual salary and stock awards targeted at $55 million next year. Cook's package includes a $2 million annual salary and planned stock awards worth $45 million in fiscal 2027. Keep in mind that as CEO, Tim Cook had a $3 million salary. The former Apple CEO also earned about $74.3 million last year. That is, he is taking a much smaller package home as executive chairman.The value of those stock awards given to Ternus and Cook can rise or fall with Apple's share price. The filing did not set out any new cash bonus figures. Ternus, Apple says, will also receive a prorated restricted stock unit, or RSU, award worth about $2.5 million in fiscal year 2026, which runs through September. Of his larger fiscal 2027 equity award, 75 per cent will be performance-based RSUs linked to Apple's total shareholder return relative to other companies in the S&P 500, while 25 per cent will be time-based RSUs that vest in equal semi-annual instalments over four years.In plain terms, most of Ternus' stock award will depend on how Apple performs against other large listed US companies, while the rest will vest over time. While Apple has not disclosed Ternus’ salary as senior VP, it is believed that he was earning around $25 million (roughly Rs 237 crore) in his previous role at the company. On the other hand, half of Cook’s fiscal 2027 equity award will be performance-based, with the other half made up of time-based RSUs vesting over four years. The portion of performance-based awards for Cook is less than Ternus.The filing also says that if Tim Cook retires on or after the first anniversary of the grant date, he will still receive the shares but only on the original vesting dates. Usually, when an executive leaves the company, their shares are forfeited, but that would not be the case for Cook.In 2025, Tim Cook’s pay package as CEO was $74.3 million, including a $3 million salary, $12 million in performance-based cash awards and $57.5 million in stock awards.Cook’s handover to Ternus marks only the second change in chief executive at Apple this century. Tim Cook was appointed Apple CEO in August 2011, as he succeeded Apple co-founder Steve Jobs. During his 15-year tenure as CEO, Cook helped increase Apple’s valuation from $350 billion to over $4.5 trillion.- EndsPublished By: Armaan AgarwalPublished On: Sep 2, 2026 08:22 IST