Assuming he's still with the company, Apple chief executive Tim Cook is looking at a big payday four years from now, when half of the restricted stock units he was awarded last year vest.
In documents filed Monday with the Securities and Exchange Commission, the company reported granting 1 million restricted stock units to Cook, who became permanent CEO in August following the resignation of Apple co-founder Steve Jobs, who died in early October following a long battle with cancer.
Apple's share price at the time of the granting in August was 376.18, making Cook's compensation worth a bit more than $376 million. The stock award vests in two steps: one half in 2016, and the other half in 2021.
The company's stock hit a new all-time high of 427.75 on Monday before closing at 421.73. It was back up to 426.00 in early Tuesday trading.
Apple also said it increased Cook's salary in November to $1.4 million from $900,000. Now if he can only make do with that until 2016! Two words, Tim: Ramen Noodles.
Jobs, of course, was famous for working on a $1 annual salary, though he also owned about 5.5 million shares of Apple stock. The company has 929.4 million shares outstanding.
Apple is scheduled to report Q1 results on January 24. The company's annual shareholders' meeting is slated for February 23.
Now for The Register's saucy headline:
Apple CEO Tim Cook has a massive package
Remember, Tim, it ain't bragging if it's true.