Apple’s Chief Receives Stock Worth $376 Million

The new chief of Apple, Timothy D. Cook, received a one-time stock award worth nearly $400 million, the largest given by a company in a decade.

The company’s board granted Mr. Cook one million restricted stock units to signal its confidence in him after Steven P. Jobs turned over the helm of the company to his longtime lieutenant.

The stock award, half of which vests in 2016 and the remaining half in 2021, was worth more than $376 million, based on the closing price of Apple’s shares on Aug. 24, 2011, the company said Monday in a public filing.

“As far as a singular award, we haven’t seen anything this large in a long time,” said Aaron Boyd, head of research at Equilar, an executive compensation data firm.

The only one-time stock award in recent memory that was worth more, said Mr. Boyd, was the January 2000 stock option package that Apple gave its co-founder, Mr. Jobs. The 40 million options in that award were valued at more than $600 million at the time, Mr. Boyd said.

Mr. Jobs, who was ousted from Apple in the mid-1980s, returned to the company in 1997 and transformed Apple with a string of hit products including the iPod, the iPhone and the iPad.

Mr. Jobs died in October after a years-long battle with cancer.

Mr. Jobs received $1 a year in salary during the past three years, according to the filing, while Mr. Cook received a salary of about $900,000 in 2011.

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