Tim Cook scores $47 million pay deal to stay on as Apple's chairman
Tim Cook is Apple's executive chair and former CEO. Kevin Dietsch/Getty Images Tim Cook is poised to earn about $47 million in annual salary and stock awards as Apple's chairman. Cook stepped down as Apple's CEO this week after 15 years in the top job. John Ternus stands to earn $58 million in salary and stock awards in his first year as CEO. Tim Cook is no longer Apple's CEO, but he'll continue to collect a CEO-sized paycheck. This week, Cook handed Apple's reins to John Ternus after 15 years in charge, and took on the role of executive chair. Cook's new job pays a $2 million salary instead of $3 million, and comes with an annual equity award with a target value of $45 million for fiscal 2027, Apple said in a regulatory filing on Tuesday. Half of that award comprises performance-based restricted stock units (RSUs) that will vest based on Apple's total shareholder return relative to other S&P 500 companies. The other half is time-based and will vest over a four-year period. As CEO, Cook earned around $74 million — including $14 million in cash bonuses and other compensation — in each of 2024 and 2025 Apple disclosed that Ternus will receive a $3 million annual salary and restricted
Tim Cook is Apple's executive chair and former CEO. Kevin Dietsch/Getty Images Tim Cook is poised to earn about $47 million in annual salary and stock awards as Apple's chairman. Cook stepped down as Apple's CEO this week after 15 years in the top job. John Ternus stands to earn $58 million in salary and stock awards in his first year as CEO. Tim Cook is no longer Apple's CEO, but he'll continue to collect a CEO-sized paycheck. This week, Cook handed Apple's reins to John Ternus after 15 years in charge, and took on the role of executive chair. Cook's new job pays a $2 million salary instead of $3 million, and comes with an annual equity award with a target value of $45 million for fiscal 2027, Apple said in a regulatory filing on Tuesday. Half of that award comprises performance-based restricted stock units (RSUs) that will vest based on Apple's total shareholder return relative to other S&P 500 companies. The other half is time-based and will vest over a four-year period. As CEO, Cook earned around $74 million — including $14 million in cash bonuses and other compensation — in each of 2024 and 2025 Apple disclosed that Ternus will receive a $3 million annual salary and restricted
