&imwidth=800&imheight=600&format=webp&quality=medium "How much will Apple CEO John Ternus earn?")
Apple has revealed the pay packages for its new CEO John Ternus and former CEO Tim Cook, just as the company enters a new leadership era.
Ternus, who officially became Apple CEO on September 1, has a target compensation of about $58 million for fiscal 2027. Cook, who has moved into the role of executive chairman, has a new target package worth about $47 million. The figures were disclosed in an Apple filing with the US Securities and Exchange Commission on the first day of Ternus’ tenure.
How much will John Ternus earn at Apple?
Ternus will receive an annual base salary of $3 million. The much larger part of his package comes from Apple shares. His fiscal 2027 equity award has a target value of $55 million. Importantly, this is not guaranteed cash. The value of the stock award can rise or fall depending on Apple’s share price.
Ternus will also receive a prorated RSU award worth about $2.5 million for his time as CEO during fiscal 2026.
Of his $55 million annual equity award, 75 per cent will be performance-based. It will depend on Apple’s total shareholder return compared with other companies in the S&P 500.
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The remaining 25 per cent will be time-based shares, vesting in equal instalments every six months over four years.
Tim Cook’s new Apple salary revealed
Cook’s pay will fall as he moves away from the CEO role, but his new package remains substantial. As executive chairman, Cook will receive an annual salary of $2 million and a fiscal 2027 equity award targeted at $45 million. Half of that stock award will be performance-based, while the other half will vest over four years. Cook earned $74.3 million in total compensation in 2025 as Apple CEO, including a $3 million salary, $12 million in performance-based cash awards and $57.5 million in stock awards.
Why Apple’s CEO change matters
Ternus is taking charge after Cook’s 15-year run as Apple CEO. Apple said in April that Ternus would succeed Cook from September 1, while Cook would become executive chairman. During Cook’s tenure, Apple grew from a company valued at around $350 billion to roughly $4.5 trillion, according to Reuters. Now Ternus faces a different challenge: keeping Apple’s enormous business growing while pushing harder in areas such as artificial intelligence. The leadership change also comes just days before Apple’s September 9 product event, giving Ternus an early opportunity to shape the company’s next chapter.
