While analysts and tech media still may be mulling Tim Cook’s potential as the new CEO of Apple, the company itself isn’t second-guessing its new leader. According to a filing with the Securities and Exchange Commission (SEC), Apple has thrown Cook 1 million restricted shares of stock.
According to the filing, 50 percent of the restricted stock units are scheduled to vest on each of August 24, 2016, and August 24, 2021, subject to Cook’s continued employment with Apple through each of the aforementioned dates.
The move comes as Apple’s longtime CEO Steve Jobs last week unexpectedly resigned as CEO. Jobs will now serve as chairman of the board for Apple’s board of directors, as Cook takes on the day-to-day duties of CEO.
As of today, Apple stock was up to $390 per share in early morning trading, which would make Cook’s new stock worth $390 million in today’s money. Some financial analysts have pegged Apple stock with a target price of $500, depending on the company’s future performance.
Even without the stock, Cook probably isn’t too worried about making rent. According to Apple Insider, Cook’s base salary in 2010 as COO was $55.8 million, including bonuses, salary and stock.