₹28 crore annual salary with ₹519 crore equity award: How much will Apple pay Tim Cook and John Ternus?

Apple has disclosed compensation plans for John Ternus and Tim Cook. The arrangements follow the company’s chief executive transition plan. Both packages became important during Apple’s leadership change in September 2026.

Apple’s amended filing at the United States Securities and Exchange Commission (SEC) explains its pay arrangements linked to those appointments. It leaves other information from Apple’s original transition filing unchanged.

These packages combine fixed salaries with restricted stock awards. The equity amounts are target values rather than additional fixed salaries. Some awards also depend on future performance or continued service over several years.

John Ternus

John Ternus became Apple’s chief executive on 1 September 2026. His annual salary increases to $3 million (over ₹28 crore) from that transition date.

Apple’s compensation committee also granted Ternus a prorated restricted stock unit award. This RSU award covers his chief executive service during fiscal 2026. Its target value is $2.5 million ( ₹23.6 crore).

Ternus will also receive an annual equity award during fiscal 2027. That award carries a target value of $55 million ( ₹519 crore). However, this figure represents targeted equity value, not his fixed annual salary.

Performance conditions apply to 75% of Ternus’ annual equity award. These RSUs depend on Apple’s total shareholder return against S&P 500 companies.

The remaining 25% will be paid out over time through RSUs. These units vest semi-annually through equal 12.5% instalments over four years. This follows Apple’s planned structure for executive awards granted during fiscal 2027.

Tim Cook

Tim Cook became the executive chair of Apple’s board during the leadership transition. His annual salary will become $2 million (about ₹19 crore) from 26 September 2026.

Cook will also receive an equity award during fiscal 2027. This award has a target value of $45 million ( ₹425 crore). Half will be granted through performance-based RSUs.

Their vesting depends on Apple’s shareholder return compared with S&P 500 companies. The other half will be provided through time-based RSUs.

These units vest semi-annually in equal 12.5% instalments across four years. Therefore, Cook’s equity mix is evenly divided between performance and continued service.

What happens if Tim Cook retires?

Tim Cook receives special retirement-related treatment under the disclosed arrangement. This applies if his employment ends through retirement after the grant’s first anniversary.

His equity award will then vest, subject to performance requirements for performance-based RSUs. However, the shares will settle only on their originally scheduled vesting dates.

Apple’s SEC filing separates fixed salary from targeted equity awards. Ternus has the higher salary and larger targeted equity package. Cook’s package gives equal weight to performance-based and time-based stock awards.