Apple Bets Big on John Ternus With $58 Million CEO Pay Package

Apple announced a $58 million pay package for new CEO John Ternus—$3 million in base salary plus $55 million in equity, to be awarded in fiscal 2027—while Tim Cook becomes executive chairman with a $2 million salary and a $45 million equity award. About 75% of Ternus’s equity is performance-based RSUs vesting with Apple’s relative TSR to the S&P 500 and 25% is time-based RSUs vesting over four years; he also received a prorated $2.5 million RSU for fiscal 2026. The handoff was completed smoothly, with Ternus set to be introduced at a September 9 streaming event, and Cook focusing on policymakers amid a challenging regulatory landscape as Apple continues to grow through devices and services.