Apple has entered a new chapter with John Ternus taking over as CEO from Tim Cook. As Ternus begins leading the company, Apple has revealed the new compensation packages for both executives, with Cook moving into the role of executive chairman. Ternus is set to receive target compensation of around $58 million, or approximately Rs 551 crore, for the current fiscal year, while Cook’s package as executive chairman is valued at about $47 million, or roughly Rs 446 crore.
In a new filing with the US Securities and Exchange Commission (SEC) on Tuesday, Apple disclosed the compensation details for Ternus and Cook. The filing came on the same day Ternus officially started his tenure as Apple CEO.
How much will John Ternus and Tim Cook earn at Apple?
Ternus’ compensation package includes an annual salary of $3 million along with stock awards targeted at $55 million for the next fiscal year. Cook’s package consists of a $2 million annual salary and planned stock awards worth $45 million for fiscal 2027.
As Apple CEO, Cook previously received an annual salary of $3 million. He earned approximately $74.3 million in total compensation last year, meaning his earnings will drop significantly now that he has moved into the executive chairman position.
The value of the stock awards granted to both executives can fluctuate depending on Apple’s share price. Apple’s filing did not disclose any new cash bonus amounts.
Ternus will also receive a prorated restricted stock unit (RSU) award worth around $2.5 million for fiscal 2026, which ends in September. Of his larger equity award for fiscal 2027, 75 per cent will consist of performance-based RSUs tied to Apple’s total shareholder return compared with other companies in the S&P 500. The remaining 25 per cent will be time-based RSUs that vest in equal instalments twice a year over a four-year period.
In other words, the majority of Ternus’ stock compensation will depend on Apple’s performance relative to other major publicly listed US companies, while the rest will be awarded gradually over time.
Apple has not disclosed how much Ternus earned as its senior vice president, although he was reportedly making around $25 million, or approximately Rs 237 crore, in his previous position.
Cook’s fiscal 2027 equity package will have a different structure. Half of his stock award will be performance-based, while the other half will consist of time-based RSUs that vest over four years. This means the performance-linked portion of Cook’s package is smaller than Ternus’.
The filing also states that if Cook retires on or after the first anniversary of the stock grant date, he will retain the shares, although they will continue to vest according to the original schedule. Typically, executives can lose unvested shares when they leave a company, but that condition will not apply to Cook.
In 2025, Cook’s total compensation as Apple CEO stood at $74.3 million. This included his $3 million salary, $12 million in performance-based cash incentives and $57.5 million in stock awards.
Cook’s transition to Ternus represents only the second change in Apple’s top leadership this century. Cook became CEO in August 2011 after succeeding Apple co-founder Steve Jobs. During his 15 years at the helm, he helped drive Apple’s valuation from around $350 billion to more than $4.5 trillion.
