Apple has revealed how much John Ternus stands to earn during his first full fiscal year as CEO, setting the company’s new chief executive up for a compensation package with a target value of at least $58 million before any additional bonuses are taken into account.
The details were disclosed in a new regulatory filing following Apple’s leadership transition on September 1, which saw Ternus succeed Tim Cook as CEO after previously leading the company’s hardware engineering organization.
Under the new arrangement, Ternus’ annual salary has increased to $3 million. Apple has also approved an annual equity award with a target value of $55 million for fiscal 2027, taking his salary and target stock compensation to $58 million.
The majority of that stock award will depend on Apple’s performance. According to the filing, 75% will consist of performance-based restricted stock units tied to Apple’s total shareholder return compared with companies in the S&P 500. The remaining 25% will be time-based shares, scheduled to vest in installments over four years.
Ternus is also receiving a separate $2.5 million prorated stock award covering the short period he will serve as CEO during Apple’s 2026 fiscal year.
The filing also gives the first detailed look at Tim Cook’s compensation following his move from CEO to executive chairman. Cook’s annual salary will fall to $2 million from September 26, while Apple has approved a fiscal 2027 equity award with a target value of $45 million. Half of Cook’s award will be performance-based, with the other half vesting over time.
While Ternus’ $58 million target package is substantial, it cannot yet be directly compared with Cook’s final compensation as CEO. Cook received total compensation of approximately $74.3 million in fiscal 2025, a figure that included his salary, stock awards, performance-based cash compensation and other benefits.
The figures announced for fiscal 2027 do not yet include all potential performance bonuses and other compensation, meaning Ternus’ eventual total earnings for the year could be higher than the initial $58 million target.
Ternus officially became Apple’s CEO on September 1, marking the company’s first change at the top since Cook succeeded Steve Jobs in 2011. Cook remains closely involved with Apple as executive chairman.
