Overview
- John Ternus officially became Apple’s CEO on Tuesday and Apple updated its leadership page to reflect the change.
- An SEC filing submitted Tuesday sets Ternus’s fiscal‑2027 target compensation at about $58 million, made up of a $3 million salary and a $55 million annual equity award plus a one‑time prorated $2.5 million RSU for fiscal 2026.
- Tim Cook moved to the role of executive chairman with a roughly $47 million FY27 target package that includes a $2 million salary and a $45 million equity award.
- Most of Ternus’s award—about 75%—is performance‑based restricted stock units that vest according to Apple’s total shareholder return versus the S&P 500, while the remainder vests over four years; Cook’s grant is split evenly between performance and time‑based RSUs.
- The pay disclosures come as Ternus faces immediate tests: advancing Apple’s AI roadmap, managing chip and supply‑chain capacity, and leading the company through a high‑visibility September product event that will shape early expectations for his tenure.