In a new regulatory filing today, Apple revealed that new CEO John Ternus is receiving a pay package with $58 million in salary and target stock awards. The company also shared details on Tim Cook’s lucrative new deal as Apple’s executive chairman.
The performance shares depend on Apple’s total shareholder return compared with other S&P 500 companies. The time-based shares vest 12.5% every six months over four years.
Bloomberg reports “that management level typically gets paid about $25 million annually when including stock, salary and bonuses While Apple did not disclose Ternus’s previous salary in his role as senior vice president of hardware engineering. This is an unusually large pay package for an executive chairman role, signaling the value that Apple thinks Cook brings to the table here. Cook’s focus as executive chairman will see him managing Apple’s relationships with President Trump and the Chinese government. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter , Facebook , and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories , reviews , how-tos , and subscribe to our YouTube channel
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