New Delhi, September 2, 2026 (Yes Punjab News)
Apple’s newly appointed Chief Executive Officer John Ternus is set to receive a compensation package worth about $58 million in fiscal 2027, while outgoing CEO Tim Cook will receive an estimated $47 million as executive chairman, according to multiple reports.
The compensation details were disclosed by Apple in a filing with the US Securities and Exchange Commission (SEC) on Tuesday, the first day of Ternus’ tenure as CEO.
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 will also receive a prorated restricted stock unit award valued at approximately $2.5 million for fiscal 2026, which ends in September.
Around 75 per cent of Ternus’ equity award will be linked to Apple’s performance relative to the S&P 500, while the remaining 25 per cent will comprise time-based stock units that vest twice a year.
Cook’s annual salary will fall to $2 million from $3 million as he moves into the executive chairman position. However, his stock award for fiscal 2027 will have a target value of $45 million, with half of the equity award tied to Apple’s performance relative to the S&P 500.
Cook’s total compensation as Apple CEO in 2025 was $74.3 million.
The actual value of the stock awards for both executives will fluctuate depending on Apple’s share price. The company did not disclose potential cash bonuses for the executives in Tuesday’s filing. Such bonuses are typically determined based on salary and performance.
Cook is stepping down as CEO after 15 years at the helm, during which Apple expanded into new product categories and grew its annual revenue to nearly $500 billion. The company’s shares also gained more than 2,200 per cent during his tenure.
Ternus, who took over as CEO on Tuesday, previously served as Apple’s senior vice president of hardware engineering and played a key role in the company’s hardware development.
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