John Ternus salary: How much will he earn as Apple CEO?

John Ternus’ annual salary has been increased to $3 million, effective September 1, 2026, the transition date. The SEC filing outlines how his compensation will be linked to Apple’s performance compared with other companies in the S&P 500. 

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For Apple investors and followers, the details offer a clearer look at what the company is committing to its new CEO. The package includes a salary, restricted stock units and a much larger annual equity award.

John Ternus’ Apple salary

Apple’s CEO transition comes with a new compensation structure that puts greater focus on both fixed pay and performance-linked rewards. As John Ternus takes charge of the company, Apple has disclosed details of the package approved for its new chief executive officer. 

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Apple’s People and Compensation Committee also granted him a prorated restricted stock unit (RSU) award for his period of service as CEO in fiscal 2026, with a target value of $2.5 million.

$55 million annual equity award

The larger component of Ternus’ package comes through equity. Apple has approved an annual equity award for him with a target value of $55 million, to be granted in fiscal 2027.

Of this award, 75% will be performance-based RSUs, which will vest based on Apple’s total shareholder return relative to other companies in the S&P 500. The remaining 25% will be time-based RSUs, vesting semiannually in equal 12.5% instalments over four years. 

What about Tim Cook?

Apple’s filing also details Tim Cook’s new package as Executive Chair. His annual salary will be $2 million, effective September 26, 2026, alongside a $45 million target-value equity award for fiscal 2027. Half will be performance-based RSUs and half time-based RSUs.

If Cook’s termination is due to retirement on or after the first anniversary of the grant date, his equity award will vest subject to performance conditions, while settlement will continue on the originally scheduled dates.