The latest SEC filing shows that, effective September 1 upon officially assuming the role of CEO, Tenus’s annual salary has been increased to $3 million, and Apple has approved an annual equity award with a target value of $55 million for fiscal year 2027. This figure is very close to what Cook received: Cook’s base salary in 2025 was also $3 million, with stock awards valued at approximately $57.5 million that year, resulting in total compensation of about $743 million. But Apple didn’t hand over the $55 million without conditions. Seventy-five percent of the award consists of performance-based RSUs, with the final amount depending on Apple’s total shareholder return relative to other companies in the S&P 500; only 25% vest over time. Additionally, in his first fiscal year as CEO—2026—Tenus received a separate RSU grant with a target value of $2.5 million, vesting based on tenure. In other words, Apple did not present its new CEO with an extravagant inaugural package; instead, it largely retained the well-established compensation framework from Cook’s era. Cook left behind a machine valued at $4.5 trillion with annual profits exceeding $110 billion. Apple’s expectations for Tenus now appear clear: you don’t need to prove your worth in dollars—first prove that this machine can continue generating returns for shareholders under your leadership. By the way, Cook, who stepped down as CEO and transitioned to Executive Chairman of the Board, has not retired: his annual salary has been reduced to $2 million, and he is also eligible for an equity award with a target value of $45 million for fiscal year 2027. Apple’s leadership transition has now been fully reflected—even down to the payroll.