Apple’s new chief executive Tim Cook has been awarded one million shares in the company, a bonus worth more than $383 million at the current stock price. Apple disclosed the award in a mandatory filing with the US Securities and Exchange Commission.
The stock will be doled out in two tranches: 50 percent in 2016 and the remainder in 2021, “subject to Mr Cook’s continued employment with Apple through each such date,” the filing said. Cook, 50, replaced Apple’s legendary co-founder Steve Jobs as chief executive of the California gadget-maker on Wednesday.
Jobs, 56, who underwent an operation for pancreatic cancer in 2004 and a liver transplant in 2009, is remaining with Apple as chairman of the board of directors. Apple shares gained 2.64 percent on Wall Street on Friday to close at $383.58.
