Morningstar

Apple to Give New CEO Ternus $3 Million Salary

Provided by Dow Jones

By Kelly Cloonan 




  Apple plans to pay its new Chief Executive John Ternus an annual salary of $3 million, plus a targeted annual stock award of $55 million for fiscal 2027. 



  Apple increased Ternus's annual salary effective Tuesday, the day he officially took the helm of the iPhone maker, according to a filing with the Securities and Exchange Commission. 



  For the targeted annual equity award, 75% of that will be granted in performance-based restricted stock units that vest based on Apple's total shareholder return relative to other companies in the S&P 500. The rest will be granted in time-based RSUs that vest semiannually in equal installments of 12.5% over four years, the company said. 



  Ternus will also get a prorated restricted stock unit award with a target value of $2.5 million for the time he spends as CEO in fiscal 2026, the company said. 



  Apple also disclosed it will pay former CEO Tim Cook an annual salary of $2 million, effective Sept. 26, and a targeted equity award of $45 million for fiscal 2027. 





  Write to Kelly Cloonan at kelly.cloonan@wsj.com 





  (END) Dow Jones Newswires



  September 01, 2026 17:35 ET (21:35 GMT)


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