New Delhi, Sep 2026 : Apple Inc.'s newly appointed Chief Executive Officer John Ternus is set to receive a compensation package worth approximately $58 million for fiscal 2027, while outgoing CEO Tim Cook is expected to earn around $47 million in his new role as executive chairman, according to multiple reports.
The compensation details were disclosed by the US-based technology giant in a filing with the US Securities and Exchange Commission on Tuesday, coinciding with Ternus' first day as Apple's CEO.
Under the package, Ternus will receive an annual base salary of $3 million and a stock award with a target value of $55 million for fiscal 2027. He is also eligible for a prorated restricted stock unit award valued at approximately $2.5 million for fiscal 2026, which concludes in September.
A significant portion of Ternus' equity compensation will be linked to Apple's performance. About 75 per cent of his equity award will depend on the company's performance relative to the S&P 500 index, while the remaining 25 per cent will comprise time-based stock units that vest twice a year.
Cook, meanwhile, will see his annual salary reduced to $2 million from $3 million following his transition to the executive chairman position. Despite the lower salary, he will receive a 2027 stock award with a target value of $45 million. Half of that equity award will be tied to Apple's performance compared with the S&P 500.
Cook's compensation package comes against the backdrop of his earnings during his 15-year tenure as Apple's CEO. His total compensation for 2025 stood at $74.3 million, according to the reports.
The actual value of the stock awards for both executives could vary significantly depending on Apple's share price. The company did not specify in Tuesday's filing the potential cash bonuses for either executive. Such bonuses are generally determined by a combination of annual salary and individual or company performance.
Cook's decision to step down as CEO marks the end of a long leadership era at Apple. During his 15 years at the helm, the company expanded beyond its traditional product portfolio, entered new categories and significantly increased its global business. Apple's annual revenue has grown to nearly $500 billion during his tenure.
The company's market value has also surged dramatically under Cook, with Apple shares gaining more than 2,200 per cent since he became CEO.
Ternus formally assumed the CEO position on Tuesday after serving as Apple's senior vice president of hardware engineering. His elevation to the top role marks a significant leadership transition for one of the world's most valuable technology companies, with investors closely watching how he builds on Apple's growth under Cook.
