Here’s how much Apple is paying John Ternus as CEO

In a new regulatory filing today, Apple revealed that new CEO John Ternus is receiving a pay package with $58 million in salary and target stock awards. The company also shared details on Tim Cook’s lucrative new deal as Apple’s executive chairman. Here’s how much Apple is paying John Ternus as CEO, Tim Cook as executive chairman.

Read John Ternus’s full memo to Apple employees on his first day as CEO Chance Miller Sep 1 2026.

Apple has set new CEO John Ternus’ target compensation at $58 million, according to an updated SEC filing [ PDF ] (via Bloomberg). Tim Cook will earn around $47 million in his new role as executive chairman.

Ternus’ fiscal 2027 compensation includes a $3 million salary and an annual equity award with a target value of $55 million. A quarter of the award is time-based and will vest semiannually over four years.

The rest of the restricted stock units (RSUs) will vest based on Apple’s total shareholder return relative to other companies in the S&P 500, which is how Cook’s RSUs have worked for many years. For fiscal 2026, Apple granted Ternus a prorated RSU award with a target value of $2.5 million.

Half will be granted in the form of time-based RSUs that vest over four years, and the other half will vest based on Apple’s stock performance. Should Cook retire on or after the first anniversary of the grant date, his equity will vest, but he won’t receive the shares until the originally scheduled vesting dates.

$47 million is a sizable pay cut for Cook, who earned $74.3 million in 2025, including a $3 million salary, $12 million in performance-based cash awards, and $57.5 million in stock awards. Ternus’ previous pay as Apple’s senior vice president of hardware engineering was not publicly shared, so this is the first look at his compensation.

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