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Apple Unveils Pay Package For New CEO John Ternus
Deadline • • business
Key Points:
- John Ternus has been appointed Apple’s new CEO with a total pay package valued at $58 million, including a $3 million annual salary and $55 million in equity grants set for fiscal 2027.
- Tim Cook transitions to executive chairman with a $2 million annual salary and a $45 million equity award for fiscal 2027, focusing on global policy engagement.
- Ternus, a 25-year Apple veteran and former head of hardware engineering, received a prorated $2.5 million restricted stock unit award for his CEO service in fiscal 2026.
- Most of Ternus’ equity award (75%) consists of performance-based RSUs tied to Apple’s shareholder return relative to the S&P 500, with the remainder vested over four years.
- Ternus will formally introduce himself to Apple employees and the public at a special event titled Surprise and Shine on September 9.
