Apple CEO John Ternus to receive $58 million pay package in 2027

Apple’s new chief executive officer, John Ternus, is set to receive compensation worth about $58 million in fiscal 2027, while his predecessor Tim Cook will earn approximately $47 million in his new position as executive chairman, according to reports.

The technology company disclosed details of the remuneration packages in a filing with the US Securities and Exchange Commission on Tuesday, the day Ternus formally took charge as CEO.

Ternus will receive an annual base salary of $3 million and a stock award carrying a target value of $55 million for fiscal 2027. He will also be granted a prorated restricted stock unit award worth approximately $2.5 million for fiscal 2026, which ends in September.

Around 75 per cent of his equity award will be linked to Apple’s performance against the S&P 500. The remaining 25 per cent will comprise time-based stock units that will vest twice a year.

Cook’s annual salary will decline from $3 million to $2 million following his transition to the executive chairman’s role. His fiscal 2027 stock award will have a target value of $45 million, with half tied to Apple’s performance relative to the S&P 500.

Cook received total compensation of $74.3 million as Apple CEO in 2025.

The eventual value of the stock awards granted to both executives will vary according to Apple’s share price. The filing did not disclose their potential cash bonuses, which are generally determined by salary levels and performance targets.

Cook has handed over the chief executive’s position after leading Apple for 15 years. During his tenure, the company entered new product segments, increased its annual revenue to nearly $500 billion and recorded a share-price gain of more than 2,200 per cent.

Ternus, who assumed charge on Tuesday, previously served as Apple’s senior vice-president of hardware engineering.

With IANS inputs