Apple Unveils Pay Package For New CEO John Ternus

Apple set a pay package worth $58 million for new CEO John Ternus, who formally took the reins from longtime chief executive Tim Cook today. His compensation includes a $3 million annual salary and equity awards valued at $55 million to be awarded in the company’s fiscal 2027, which starts in October.

The tech giant disclosed Ternus’ pay, along with Cook’s new contract as executive chairman, in an SEC filling Tuesday. Cook’s annual salary will be $2 million, effective September 26. He’ll also receive an equity award for FY27 with a target value of $45 million.

Ternus was also granted a prorated restricted stock unit (or RSU) award for his service as CEO in fiscal 2026 valued at $2.5 million.

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