Apple names John Ternus CEO with $3 million salary, $55 million equity
Apple just named John Ternus as its new CEO, and his compensation is huge: he gets a $3 million salary, $2.5 million in restricted stock units prorated for the few weeks he'll serve as CEO before the end of Apple's 2026 fiscal year, and an annual equity award with a target value of $55 million for fiscal 2027.
Altogether, his seven restricted stock grants could have a final payout ranging from about $50 million to $148 million.
Ternus holds about $110 million Apple shares
Ternus already has around $110 million in Apple shares, including 34,000 held in a trust and seven restricted stock grants covering around 305,000 shares.
Nearly half of these are performance units that could pay double or nothing.
For 2027, 75% of his annual equity award will vest based on Apple's total shareholder return compared with other S&P 500 companies.
Tim Cook exec-chairman $2 million $45 million equity
After leading Apple for 15 years, Tim Cook is now executive chairman with an annual salary of $2 million and an equity package worth $45 million for fiscal 2027.