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John Ternus stepped into the role of Apple’s new CEO with a target compensation package worth about $58 million for fiscal 2027. The package includes a $3 million annual salary and a $55 million equity award. The tech giant gave the details in a regulatory filing with the US Securities and Exchange Commission.
The equity component will account for most of Ternus’ compensation. About 75% of the $55 million award will be performance-based restricted stock units. These awards will depend on Apple’s total shareholder return compared with other companies in the S&P 500.
The remaining 25% will comprise time-based restricted stock units. These shares will vest in equal instalments every six months over four years. Ternus will also receive a prorated RSU award with a target value of $2.5 million for the period he serves as CEO during fiscal 2026. This is separate from his fiscal 2027 annual equity award.
Cook received around $74.3 million in total remuneration for fiscal year 2025. This consisted of a salary of $3 million, stock grants of $57.5 million, and $12 million in performance-related bonuses.
The comparison also highlights Apple’s reliance on equity-based compensation. While both figures of $58 million for Ternus and $47 million for Cook are target amounts, they do not guarantee any actual cash earnings.
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