John Ternus took over as Apple CEO on Tuesday, succeeding Tim Cook after 15 years at the helm of the $4.75 trillion company. The board awarded him a $3 million salary and restricted stock units worth $2.5 million for the remainder of fiscal 2026, plus a $55 million equity award for fiscal 2027. Three quarters of this award will vest based on Apple’s total shareholder return relative to other S&P 500 companies, with the remainder paid in 12.5% tranches every six months over four years. Tim Cook remains executive chair with his salary reduced from $3 million to $2 million and a $45 million equity award.
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