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Apple Sets New CEO John Ternus’s Pay at $58 Million; Tim Cook Gets $47 Million as Executive Chairman
Apple named John Ternus as CEO on Tuesday, with Tim Cook moving to executive chairman. A SEC filing shows Ternus’s target compensation is about $58 million for fiscal 2025, while Cook will receive $47 million. The new pay packages mark the first CEO transition at Apple since 2011.
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Apple has named John Ternus as its new chief executive, succeeding Tim Cook, who becomes executive chairman—a newly created role. The transition, effective Tuesday, was disclosed in a regulatory filing that also detailed compensation for both executives.
According to Apple’s filing with the S. Securities and Exchange Commission (SEC) on Sept. 1, Ternus will earn a $3 million annual salary, effective immediately. His target compensation for the current fiscal year is about $58 million (roughly Rs 551 crore), which includes stock awards targeted at $55 million. Cook’s package as executive chairman is $47 million (about Rs 446 crore), comprising a $2 million salary and $45 million in planned equity.
The filing marks only the second change in CEO at Apple this century. Cook, who had led the company since 2011, takes on the executive chair role he was created for, while longtime non-executive board chair Arthur Levinson will become lead independent director. Cook’s salary drops from $3 million to $2 million as executive chairman, and his fiscal 2027 stock package carries a target value of $45 million.
Ternus, a 25-year Apple veteran who previously served as senior vice president of hardware engineering, also receives a prorated restricted stock unit award worth $2.5 million for fiscal 2026. The bulk of his equity award is performance-based: 75% will vest based on Apple’s total shareholder return relative to other S&P 500 companies, while the remaining 25% consists of time-based units vesting over four years. In contrast, half of Cook’s fiscal 2027 equity award is performance-based, with the other half time-based.
In a message to employees on Sept. 1, Ternus thanked Cook and the staff, writing, “We’re so lucky to have had a CEO who led with his values and with such decency and humanity.” He also hinted at an upcoming product launch: “We have a huge launch next week that’s going to be phenomenal.”
Ternus, 51, joined Apple’s design team in 2001 and rose to lead engineering for the company’s entire product portfolio, including the iPhone, which accounts for the largest share of revenue. His appointment comes just days before Apple’s annual iPhone event on Sept. 9, where the company is expected to unveil its first foldable iPhone.
Cook’s role as executive chairman includes engagement with policymakers globally. The former CEO’s total pay in fiscal 2025 was $74.3 million, including a $3 million salary, $12 million in performance-based cash awards, and $57.5 million in stock awards. During his 15-year tenure, Apple’s valuation grew from about $350 billion to over $4.5 trillion.
Analysts note that Ternus will face the challenge of balancing Apple’s reliance on Beijing while dealing with political pressure from the White House. Under his leadership, Apple is expected to emphasize innovative product development and integrate artificial intelligence into its devices.
The filing, submitted to the SEC, marked the first day of Ternus’s tenure. It did not set out any new cash bonus figures for either executive. Apple has not disclosed what Ternus earned in his previous role, though executives at that level typically receive around $25 million annually, according to a Bloomberg report mentioned in one source.
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Framing: Highlights Apple's disclosure of new CEO John Ternus' salary and executive chair Tim Cook's details — Informative and factual
Facts Included:
John Ternus is the new CEO of Apple, with Tim Cook becoming executive chairman
Ternus' target compensation is about $58 million (roughly Rs 551 crore) for this fiscal year
Cook will receive about $47 million (roughly Rs 446 crore) as executive chairman
The compensation was disclosed in a filing with the US Securities and Exchange Commission (SEC) on Tuesday
Ternus' package includes a $3 million annual salary and stock awards targeted at $55 million next year
Cook's package includes a $2 million annual salary and planned stock awards worth $45 million in fiscal 2027
As CEO, Tim Cook had a $3 million salary
Of Ternus' fiscal 2027 equity award, 75 per cent will be performance-based RSUs linked to Apple's total shareholder return relative to other companies in the S&P 500, while 25 per cent will be time-based RSUs
Half of Cook's fiscal 2027 equity award will be performance-based, with the other half made up of time-based RSUs
The filing says that if Tim Cook retires on or after the first anniversary of the grant date, he will still receive the shares but only on the original vesting dates
Tim Cook was appointed Apple CEO in August 2011, succeeding Steve Jobs
Framing: The headline emphasizes the financial package for Tim Cook in his new role as executive chairman, including the $47 million figure and annual salary.
Facts Included:
Apple is paying Tim Cook a $47 million compensation package as he transitions to the newly created role of executive chairman.
The compensation package includes a $2 million annual salary and $45 million in planned equity, as reported by The Financial Times on Tuesday.
In a US SEC filing, Apple noted that the current CEO's base salary has now been raised to $3 million, with a target annual equity award of $55 million in financial year 2027, provided the performance criteria are met.
John Ternus has been selected as CEO to shift from Tim Cook's operations-focused leadership to a more product- and engineering-led approach.
John Ternus has over two decades of experience at Apple, overseeing the engineering of key products like the iPhone and iPad.
Under John Ternus, Apple is expected to focus more on innovative product development and integrate artificial intelligence into its devices.
Cook's previous compensation package during the 2024 and 2025 fiscal years was around $74 million.
The handover to Ternus on Tuesday marked only the second change in CEO at the company this century.
The company has created the executive chair position specifically for Cook, while longtime non-executive board chair Arthur Levinson will take over as lead independent director from Tuesday.
Levinson received $557,231 in compensation for the 2025 fiscal year.
Cook's role as executive chairman includes engagement with policymakers around the world.
Ternus, a 25-year Apple veteran and hardware engineer, told employees that he is honoured to step into the role and is grateful that Cook is the executive chair.
Ternus assumed the role of CEO on Tuesday, taking charge of a company that remains dominant in the global smartphone market but has fallen behind competitors in artificial intelligence.
Ternus will face the challenge of balancing the iPhone maker's dependence on Beijing while dealing with acute political pressure from the White House.
Ternus, 51, joined the company's design team in 2001 and worked his way up to senior vice president of hardware engineering, reporting to Cook, AFP reported.
Ternus oversees the engineering teams responsible for Apple's entire product portfolio, including the iPhone, which accounts for the largest share of the company’s revenue.
Ternus’s appointment comes just days before Apple’s annual iPhone event on 9 September.
The company is expected to unveil its first foldable iPhone at the event.
Framing: The headline emphasizes the news of Apple executive pay, specifically the new CEO and executive chair's compensation.
Facts Included:
John Ternus became the new CEO of Apple on Tuesday, with Tim Cook handing over the reins.
Ternus will earn a $3 million annual salary, effective immediately, according to the company's filing with the Securities and Exchange Commission.
Tim Cook had been CEO of Apple since 2011 and transitions to become executive chair of the board of directors.
The same filing lists Cook's salary as executive chair at $2 million per year, beginning Sept. 26.
In his message to employees on Sept. 1, Ternus thanked Cook and the employees for their contribution.
Ternus wrote, "We're so lucky to have had a CEO who led with his values and with such decency and humanity."
Ternus teased an upcoming event of the company on Septus. 9, writing "We have a huge launch next week that's going to be phenomenal."
Ternus also wrote, "Thanks for everything you've all done to make it possible. I'm just as excited about what lies beyond that, including the incredible products already in the works and the ones we haven't even imagined yet that we'll dream up and create together."
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Claim
Confidence
Status
ClaimApple is paying Tim Cook a $47 million compensation package as he transitions to the newly created role of executive chairman.
ClaimIn a US SEC filing, Apple noted that the current CEO's base salary has now been raised to $3 million, with a target annual equity award of $55 million in financial year 2027.
ClaimThe company has created the executive chair position specifically for Cook, while longtime non-executive board chair Arthur Levinson will take over as lead independent director from Tuesday.
ClaimTernus, a 25-year Apple veteran and hardware engineer, told employees that he is honoured to step into the role and is grateful that Cook is the executive chair.
ClaimTernus assumed the role of CEO on Tuesday, taking charge of a company that remains dominant in the global smartphone market but has fallen behind competitors in artificial intelligence.
ClaimTernus will face the challenge of balancing the iPhone maker's dependence on Beijing while dealing with acute political pressure from the White House.
ClaimTernus oversees the engineering teams responsible for Apple's entire product portfolio, including the iPhone, which accounts for the largest share of the company's revenue.
ClaimTernus will begin earning a $3 million annual salary, effective immediately, according to the company's filing with the Securities and Exchange Commission.
ClaimTernus also wrote, "Thanks for everything you've all done to make it possible. I'm just as excited about what lies beyond that, including the incredible products already in the works and the ones we haven't even imagined yet that we'll dream up and create together."
ClaimApple has fixed a compensation package worth roughly $58 million (about ₹551 crore) for John Ternus, who took over as the company's Chief Executive Officer(CEO) this week.
ClaimFor the current fiscal year, Ternus has also been awarded a prorated restricted stock unit grant worth $2.5 million, covering the period he serves as CEO before fiscal 2026 closes.
ClaimThe bulk of Ternus's equity award is tied to performance: three-quarters of the stock grant will vest based on Apple's total shareholder return measured against other S&P 500 companies, while the remaining quarter consists of time-based units vesting in installments over four years.
ClaimHis annual salary drops from $3 million to $2 million, and his fiscal 2027 stock package carries a target value of $45 million, lower than Ternus's package and less heavily weighted toward performance-linked shares.
ClaimBloomberg noted that Apple has not disclosed what Ternus earned in his previous role as senior vice president of hardware engineering, though it reported that executives at that level typically receive around $25 million a year when salary, bonuses and stock are combined.
ClaimApple’s new CEO has a target compensation of about $58 million (roughly Rs 551 crore) for this fiscal year, while Tim Cook will receive about $47 million (roughly Rs 446 crore)as executive chairman.
ClaimOf Ternus's fiscal 2027 equity award, 75 per cent will be performance-based RSUs linked to Apple's total shareholder return relative to other companies in the S&P 500, while 25 per cent will be time-based RSUs.
ClaimThe filing says that if Tim Cook retires on or after the first anniversary of the grant date, he will still receive the shares but only on the original vesting dates.
ClaimIn 2025, Tim Cook’s pay package as CEO was $74.3 million, including a $3 million salary, $12 million in performance-based cash awards and $57.5 million in stock awards.