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Apple outlines compensation packages for executive chairman Tim Cook and new CEO John Ternus

Regulatory filings reveal target pay deals for Cook's advisory transition and Ternus's promotion to chief executive.

Updated Sep 2, 2026 · 12:28 UTC3 reports

The short version

  • Tim Cook has stepped down after 15 years as Apple's chief executive to become executive chairman, transferring the role to John Ternus.[Business Insider]
  • Apple filed disclosures detailing Cook's fiscal 2027 compensation target of $47 million, consisting of a $2 million salary and $45 million in equity.[Business Insider]
  • Ternus will receive a $3 million base salary alongside a $55 million target stock package and a prorated 2026 equity grant.[Business Insider · 9to5Mac]
  • Potential cash bonuses for both leaders remain unrevealed in the filings as Cook focuses on government and global relations.[Business Insider · 9to5Mac · The Guardian]

Key facts

  • Tim Cook concluded his 15-year tenure as Apple's CEO and transitioned to executive chair, succeeded by John Ternus.[Business Insider · The Guardian]
  • Cook's compensation as executive chair targets $47 million for fiscal 2027, featuring a $2 million salary and a $45 million equity award split evenly between performance targets and four-year vesting.[Business Insider · 9to5Mac · The Guardian]
  • John Ternus will earn a $3 million salary and a $55 million target annual equity award, with 75% tied to performance criteria.[Business Insider · 9to5Mac]
  • Ternus also receives a prorated stock grant valued at $2.5 million for his CEO duties in fiscal 2026.[9to5Mac]
  • Cook's total compensation as CEO exceeded $74 million in fiscal 2025.[9to5Mac · The Guardian]
  • Cook's new duties include overseeing relationships with international policymakers, including President Donald Trump and the Chinese government.[9to5Mac · The Guardian]

What remains uncertain

  • The exact cash bonuses that Cook and Ternus may receive were not specified in the regulatory filings.[Business Insider]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.