Form 8-K/A · Amended current report
Apple Inc. 8-K/A, filed Sep 1, 2026
- Filed
- CIK
- 0000320193
- Accession no.
- 0001140361-26-035325
Summary
Apple disclosed new compensation arrangements for John Ternus as CEO and Tim Cook as Executive Chair of its board, effective with the September 1, 2026 transition: Ternus receives a $3 million annual salary and a fiscal 2027 equity award with a $55 million target value, and Cook a $2 million salary and a $45 million target equity award.
Key points
- John Ternus's annual salary was increased to $3 million on September 1, 2026, along with a prorated restricted stock unit award for his fiscal 2026 CEO service with a $2.5 million target value.
- 75% of Ternus's fiscal 2027 equity award is in performance-based RSUs vesting on Apple's total shareholder return relative to other S&P 500 companies, and 25% in time-based RSUs vesting semiannually in 12.5% installments over four years.
- Tim Cook's annual salary as Executive Chair will be $2 million, effective September 26, 2026, and his fiscal 2027 equity award target value is $45 million, split evenly between performance-based and time-based RSUs.
- Cook's equity award vests on termination due to retirement on or after the first anniversary of the grant date, subject to performance for the performance-based RSUs, and continues to settle on the originally scheduled vesting dates.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
From the filing
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Apple Inc. (“Apple”) previously announced its Chief Executive Officer transition plan in its Current Report on Form 8-K filed on April 20, 2026 (the “Original Form 8-K”). This Amendment to the Original Form 8-K (the “Form 8-K/A”) is being filed to disclose John Ternus’ new compensation arrangement in connection with his appointment to the role of CEO, and Tim Cook’s new compensation arrangement in connection with his appointment to the role of Executive Chair of Apple’s Board of Directors (the “Board”), in each case effective as of…
An excerpt of the text as filed with the SEC, cut for length.
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