Cupertino based Apple Inc Chief Executive Tim Cook has received stocks worth nearly $377 million during 2011, its probably the largest given by a company in a decade. Apple board granted Apple Chief Executive Tim Cook with 1 million restricted shares. The stock awards comes as which half of the vest in 2016 and remming half in 2021 valued at $377 million according to recent proxy filling.
“The Board views his retention as CEO as critical to the Company’s success and smooth leadership transition. The RSU award is intended as a long-term retention incentive,” Apple Inc revealed. Steve Jobs who died in October after several year battling pancreatic cancer, who owned 5.5 million shares at Apple according to the filling, Jobs received $1 a year in salary during the past three years, according to the filing, while Cook received a salary of about $900,000 in 2011.