Apple Unveils Pay Package For New CEO John Ternus

Skip to main content Apple's new John Ternus with longtime chief Tim Cook at Apple TV’s Ted Lasso Season 4 Premiere Getty Images Apple set a pay package worth $58 million for new CEO John Ternus, who formally took the reins from longtime chief executive Tim Cook today. His compensation includes a $3 million annual salary and equity awards valued at $55 million to be awarded in the company’s fiscal 2027, which starts in October. The tech giant disclosed Ternus’ pay, along with Cook’s new contract as executive chairman, in an SEC filling Tuesday. Cook’s annual salary will be $2 million, effective September 26. He’ll also receive an equity award for FY27 with a target value of $45 million. Ternus was also granted a prorated restricted stock unit (or RSU) award for his service as CEO in fiscal 2026 valued at $2.5 million. Apple said 75% of Ternus’ equity award will be granted in performance-based RSUs that vest based on Apple’s total shareholder return relative to other companies in the S&P 500, and 25% will be granted in the form of time-based RSUs that vest semiannually in equal installments of 12.5% over four years. Watch on Deadline Apple announced in April that Cook would be stepping down after 15 years as CEO with Ternus, the company’s head of hardware engineering, his successor. More to come Must Read Stories Read More About: Subscribe to Deadline Get our Breaking News Alerts and Keep your inbox happy. Sign Up Newswire Site