New Delhi — Apple CEO John Ternus is set to receive a compensation package valued at about $58 million in fiscal 2027, while former CEO Tim Cook will receive about $47 million as he transitions to the role of executive chairman, according to reports.
Apple disclosed the compensation details in a filing with the U.S. Securities and Exchange Commission on Tuesday, the first day of Ternus’ tenure as chief executive.
Ternus will receive an annual base salary of $3 million along with a stock award carrying a target value of $55 million for fiscal 2027. He will also receive a prorated restricted stock unit award valued at about $2.5 million for fiscal 2026, which ends in September.
About 75% of Ternus’ equity award will be tied to Apple’s performance relative to the S&P 500. The remaining 25% will consist of time-based stock units that vest twice a year.
Cook’s annual salary will fall to $2 million from $3 million as he takes on the executive chairman role. His fiscal 2027 stock award will have a target value of $45 million, with half of the equity award linked to Apple’s performance compared with the S&P 500.
Cook received total compensation of $74.3 million as Apple CEO in 2025.
The ultimate value of the stock awards for both executives will depend on Apple’s share price. The company did not disclose potential cash bonuses for Ternus or Cook in Tuesday’s filing. Such bonuses are typically tied to salary and performance targets.
Cook is stepping down as CEO after 15 years leading Apple, a period in which the company expanded into new product categories and increased annual revenue to nearly $500 billion.
Apple shares also gained more than 2,200% during Cook’s tenure.
Ternus, who formally took over as CEO on Tuesday, previously served as Apple’s senior vice president of hardware engineering. (Source: IANS)
