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.[1][2]
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.[1][2]
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.[2]
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.[1][2]
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.[2]
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.[3] 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.
Source: 9to5Mac[1]; Apple SEC filing[2]; Apple Newsroom[3]
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