Apple Sets John Ternus' Pay Target at $58 Million, Tim Cook at $47 Million

Apple has disclosed fiscal 2027 compensation targets of about $58 million for new CEO John Ternus and about $47 million for executive chairman Tim Cook. The arrangements were detailed in an amended Form 8-K filed with the Securities and Exchange Commission on Tuesday, September 1, Ternus's first day as CEO.



Ternus's annual salary increased to $3 million on September 1. Apple's People and Compensation Committee also granted him a prorated restricted stock unit award with a target value of $2.5 million for his service as CEO during fiscal 2026. For fiscal 2027, the committee approved an annual equity award with a target value of $55 million.


Three-quarters of Ternus's fiscal 2027 equity award will consist of performance-based RSUs that vest based on Apple's total shareholder return relative to other companies in the S&P 500. The remaining 25 percent will consist of time-based RSUs that vest semiannually in equal installments of 12.5 percent over four years.

Cook's annual salary will be $2 million beginning September 26. The committee also approved a fiscal 2027 equity award with a target value of $45 million, split evenly between performance-based and time-based RSUs. The performance-based portion will vest based on Apple's total shareholder return relative to other S&P 500 companies, while the time-based portion will vest semiannually in equal installments of 12.5 percent over four years.

If Cook retires on or after the first anniversary of the grant date, the award will vest, subject to performance conditions for the performance-based RSUs, but will continue to settle on the originally scheduled vesting dates.

The new compensation arrangements follow the CEO transition Apple announced in April, which took effect today, September 1, 2026.