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.

John Ternus’s new compensation

The numbers were disclosed in a filing with the Securities and Exchange Commission today. Ternus’s $58 million pay package includes two components:

  • Base salary: $3 million/year
  • Annual equity award: $55 million target value beginning fiscal 2027
    • 75% ($41.25M) performance-based restricted stock units (RSUs)
    • 25% ($13.75M) time-based RSUs

The performance shares depend on Apple’s total shareholder return compared with other S&P 500 companies. The time-based shares vest 12.5% every six months over four years.

For 2026, Ternus is also receiving prorated stock awards with a $2.5 million target value, covering the portion of fiscal 2026 he serves as CEO.

While Apple did not disclose Ternus’s previous salary in his role as senior vice president of hardware engineering, Bloomberg reports “that management level typically gets paid about $25 million annually when including stock, salary and bonuses.”

Tim Cook’s new compensation

Meanwhile, Tim Cook is receiving a pay package with a $47 million target value for fiscal 2027. This includes:

  • Base salary: $2 million/year, effective September 26
  • Fiscal 2027 equity award:$45 million target value
    • 50% ($22.5M) performance-based
    • 50% ($22.5M) time-based, vesting 12.5% every six months over four years
      This is an unusually large pay package for an executive chairman role, signaling the value that Apple thinks Cook brings to the table here. Cook’s focus as executive chairman will see him managing Apple’s relationships with President Trump and the Chinese government.

For fiscal 2025, Cook’s total pay package as CEO was $74,294,811. That number, however, includes things not factored into today’s SEC filing. Those include non-equity incentive plan compensation, retirement plans, vacation days, personal security expenses, and more. Cook’s salary and stock awards totaled roughly $60.5 million for 2025.

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