Apple Inc. disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) on Sep. 1 that new CEO John Ternus will receive a target compensation package of approximately US$58 million for fiscal 2027, while Tim Cook, now executive chairman, will receive about US$47 million.
Ternus, 51, who previously served as Apple's senior vice president of Hardware Engineering, will receive an annual base salary of US$3 million and an annual equity award with a target value of US$55 million for fiscal 2027. He will also receive a restricted stock unit (RSU) award with a target value of about US$2.5 million, prorated for his tenure as CEO in fiscal 2026.
Of Ternus's equity award, 75% (approximately US$41.25 million) will be granted as performance-based RSUs, with vesting contingent on Apple's total shareholder return relative to S&P 500 component companies. The remaining 25% (approximately US$13.75 million) will be granted as time-based RSUs, vesting semi-annually in equal installments over four years.
Apple announced in April 2026 that Ternus would succeed Cook as CEO, with Sep. 1 set as the effective date of the appointment. Meanwhile, Apple's first foldable iPhone is expected to debut at the September 9 product launch event, marking Ternus's first major product meeting as CEO.
Ternus Joins Weibo, Posts Bilingual 'Hello'
On Sep. 1 Beijing time, Apple's new CEO John Ternus joined Chinese social platform Weibo and posted his first message — a bilingual "Hello" in both Chinese and English. As of 9:30 am on Sep. 2, his account had garnered 27,000 followers. Notably, the account's IP address was in Shanghai.
After joining Weibo, Ternus first followed his predecessor Tim Cook and Apple's Greater China managing director Isabel Ge Mahe. Meanwhile, Cook's Weibo verification has been updated to Executive Chairman of Apple.
Apple's Market Cap Surges Over US$120 Billion Overnight
On Tuesday, Sep. 1, all three major U.S. indices closed lower, with the Dow down 0.79%, the S&P 500 down 0.71%, and the Nasdaq down 1.03%. Most major tech stocks declined, with Tesla falling over 3% and Amazon, Nvidia, Microsoft, and Google each dropping more than 1%. However, Apple shares rose 2.6% as John Ternus formally took over as the company's eighth CEO, adding over US$120.8 billion to Apple's market capitalization overnight.
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