Apple’s New CEO Bets Big: $55M Equity Target Arrives with a $2,400 Foldable iPhone Ultra
Eight days after taking the top job, Apple’s new CEO John Ternus unveils a $2,400 foldable iPhone Ultra as part of a bold leadership package: a $3 million salary, a $2.5 million prorated restricted stock grant for fiscal 2026, and a $55 million annual equity award (75% tied to Apple’s total shareholder return relative to the S&P 500). Tim Cook shifts to executive chair with a $2 million salary and a $45 million equity award. The move comes as Apple reports Q3 revenue of $109.42 billion (up about 16% year over year) and faces a tight supply window for the new device, with preorder timing and high pricing testing demand against lofty valuations.
