John Ternus has taken over as Apple's new CEO, with Tim Cook moving to the executive chairman role. The company has revealed their new compensation packages, with Ternus set to earn approximately $58 million and Cook around $47 million, a significant change from his previous CEO earnings.
Apple has just kickstarted a new era with John Ternus taking the reins from Tim Cook. Apple has revealed the new compensation packages for John Ternus, the company's CEO, and Cook, who is assuming a new position. Tim Cook will be paid around $47 million (nearly Rs 446 crore) as executive chairman, while Apple's next CEO is expected to get approximately $58 million (roughly Rs 551 crore) this fiscal year.
Apple revealed the increased compensation packages for Ternus and Cook in a new filing with the US Securities and Exchange Commission (SEC) on Tuesday. The file was submitted on the same day that John Ternus started working for the firm as CEO.
To put it simply, Ternus' compensation consists of a $3 million yearly salary plus stock awards that are expected to reach $55 million the next year. A $2 million yearly salary and anticipated stock awards totalling $45 million in fiscal 2027 are part of Cook's deal. Remember that Tim Cook earned $3 million in his role as CEO. Last year, the former CEO of Apple also made around $74.3 million. In other words, as executive chairman, he is bringing home a far lesser payout.
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According to Apple, Ternus will also be awarded a prorated restricted stock unit, or RSU, for about $2.5 million during the fiscal year 2026, which ends in September. Of his bigger fiscal 2027 equity reward, 25% will be time-based RSUs that vest in equal semi-annual installments over four years, and 75% will be performance-based RSUs linked to Apple's total shareholder return in comparison to other S&P 500 firms.
To put it simply, the majority of Ternus' stock award will be determined by Apple's performance in comparison to other major US listed businesses, with the remaining portion vesting over time. Although Ternus' compensation as senior vice president has not been made public by Apple, it is thought that he made about $25 million (approximately Rs 237 crore) in his prior position.
Cook's fiscal 2027 equity award, on the other hand, will be split between performance-based and time-based RSUs that vest over a four-year period. Cook receives a smaller share of performance-based prizes than Ternus.
Tim Cook had a $74.3 million compensation package in 2025 as CEO, which included a $3 million salary, $12 million in cash rewards depending on performance, and $57.5 million in stock awards.
With Cook's transfer to Ternus, Apple has only had two CEO changes this century. In August 2011, Tim Cook took over as CEO of Apple, replacing Steve Jobs, the company's co-founder. Cook contributed to raising Apple's worth from $350 billion to over $4.5 trillion over his 15 years as CEO.
