Overview
- John Ternus formally took over as Apple’s CEO on Sept. 1, 2026 and has begun limited public outreach, posting briefly on X and sending an internal memo that previewed a major product launch next week.
- Apple’s SEC filings show Ternus will receive a $3 million annual base salary plus restricted stock units with a $55 million target for fiscal 2027 and a pro‑rated $2.5 million award for the remainder of 2026.
- Seventy‑five percent of Ternus’s equity award is performance‑based and tied to Apple’s total shareholder return relative to the S&P 500, while the remaining 25 percent vests on a fixed, semiannual schedule over four years.
- Tim Cook stepped down after 15 years as CEO to become executive chair and was disclosed to have a fiscal‑2027 target equity package worth tens of millions of dollars, signaling he will remain an active, paid adviser.
- Analysts say the package structure is meant to preserve leadership continuity and retain institutional knowledge, and the near‑term product event and early communications from Ternus will be watched as the first test of the new regime.