Apple said in a regulatory filing in 2026 that Cook will receive a $2 million salary and an annual equity award with a target value of $45 million for fiscal 2027 as executive chair. ^[1] Tim Cook stepped down as Apple's CEO in 2026 after 15 years and became executive chair. ^[2] Apple disclosed in a Securities and Exchange Commission filing that new CEO John Ternus will receive a total compensation package of $58 million. ^[3] Half of Cook's equity award is performance-based restricted stock units tied to Apple's total shareholder return relative to S&P 500 companies, and the other half is time-based vesting over four years. ^[4] John Ternus, who succeeded Cook as CEO, will receive a $3 million annual salary and restricted stock with a target value of $55 million for his first year, with 75% of the RSUs tied to Apple's relative performance and 25% vesting over four years. ^[5] John Ternus's compensation package includes a base salary of $3 million per year and an annual equity award with a target value of $55 million beginning in fiscal 2027. ^[6] The $55 million equity award for John Ternus consists of 75% performance-based restricted stock units and 25% time-based restricted stock units. ^[7] China's economic policymakers need to implement more radical structural reforms-such as supporting household income, strengthening social security nets, and stabilizing employment-because monetary easing alone will not resolve the property crisis. ^[8] China's new home sales and construction activity are not expected to recover significantly in the coming period, as financial easing measures have not resolved high housing inventory and weak consumer confidence. ^[9] Fitch Ratings, an international credit rating agency, said it expects no significant change or recovery in China's new home sales or construction activity in the coming period, and that mortgage easing will be insufficient to offset the negative impact of high housing stock and weak buyer confidence. ^[10] The loosening of mortgage conditions in China has failed to clear the accumulated housing stock or restore buyer confidence, which remain overshadowed by structural problems. ^[11]