Apple’s SEC filing puts John Ternus’s fiscal 2027 compensation target at about $58 million and Tim Cook’s executive-chair target at about $47 million, with both packages weighted toward equity.
Apple has disclosed the compensation targets for John Ternus and Tim Cook as the company completes its CEO transition. Ternus, who became Apple’s CEO on September 1, will receive a $3 million annual salary and a fiscal 2027 equity award with a target value of $55 million.
The filing makes clear that the $55 million award is not all guaranteed pay. Seventy-five percent will be performance-based restricted stock units tied to Apple’s total shareholder return relative to other S&P 500 companies. The remaining 25% will be time-based RSUs that vest in equal 12.5% installments every six months over four years.
Ternus will also receive a prorated RSU award with a target value of $2.5 million for his service as CEO during fiscal 2026. Together with his $3 million salary, that puts the fiscal 2027 target at roughly $58 million before considering how the stock awards ultimately perform.
Tim Cook’s new role as executive chair comes with a $2 million annual salary, effective September 26, and a fiscal 2027 equity award targeting $45 million. Apple’s filing splits Cook’s award evenly between performance-based and time-based RSUs, with the latter following the same four-year, semiannual vesting structure.
The disclosure adds a financial detail to a transition Apple announced in April, when it said Cook would become executive chair and Ternus would become CEO on September 1. It does not establish how Apple’s strategy will change under Ternus, but it shows that the board is attaching a substantial performance component to the new CEO’s long-term compensation.
The figures are targets, not a promise that either executive will receive those exact values in realized compensation. The performance portions depend on Apple’s relative shareholder returns, while the time-based portions depend on the stock’s value when they vest.
