Apple changes direction - Here's how much the new CEO, John Ternus, will be paid
Apple has changed its top executive pay structure following the transition of John Ternus to the CEO position, giving the new leader a package with a target value of about $58 million for 2027.
Ternus, who took over the company on September 1, will have an annual salary of $3 million, with the bulk of his compensation coming from stock awards. Starting in fiscal 2027, he will receive stock with a target value of $55 million, while his tenure in fiscal 2026 is also set to include a pro-rata bonus of about $2.5 million.
According to documents filed by Apple with the US Securities and Exchange Commission (SEC), 75% of the stock award for Ternus will be linked to the company's performance and total shareholder return, compared to other companies in the S&P 500 index. The remaining 25% will consist of shares linked to tenure and will be granted in installments over a four-year period.
Meanwhile, Tim Cook's compensation is also changing after leaving the CEO position. As executive chairman, his annual salary will be reduced from $3 million to $2 million, while a stock package with a target value of $45 million has been approved for fiscal year 2027.
In total, Cook's package amounts to about $47 million, but even that amount is not guaranteed. The final value of the stock awards will depend on Apple's performance and its market results.
The new compensation represents a significant reduction from what Cook earned as CEO. In 2025 alone, he received about $74.3 million, including salary, stock awards, bonuses and other benefits.
During Cook's 15 years at the helm, Apple's market value has grown from about $350 billion to over $4.5 trillion, while annual revenue has grown from $108 billion to about $416 billion.
Ternus takes over from a much larger Apple, but it also faces significant challenges. One of them is artificial intelligence, where the company has been criticized for delays in developing the next generation of Siri. Another challenge is diversifying the global production chain and reducing dependence on China, without compromising the company's high margins.
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