Apple has offered $384 million in stock to its newly-appointed Chief Executive Officer, Tim Cook, locking him up through 2021.
The offer was disclosed in a document filed to the U.S. Security and Exchange Commission, which was released on Friday.
According to the Apple filing: “In connection with Mr. Cook's appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook's continued employment with Apple through each such date.”
Apple has awarded Cook 1 million shares, which at Friday’s closing stock price of $383.58 a share is worth about $383 million.
The SEC file also mentioned the resignation of Steve Jobs. While Jobs was on a medical leave since January, Tim Cook was running the daily operations at Apple.
I want you to be confident that Apple is not going to change, Cook wrote. I cherish and celebrate Apple's unique principles and values. Steve built a company and culture that is unlike any other in the world and we are going to stay true to that—it is in our DNA. We are going to continue to make the best products in the world that delight our customers and make our employees incredibly proud of what they do.