Apple gives Tim Cook new equity that could give him up to a million shares by 2025

Apple said it is giving Chief Executive Officer Tim Cook new equity awards that could provide him with as many as 1 million shares by 2025.

The compensation, currently worth $76 million to $114 million depending on Apple’s share performance, gives Cook a new reason to keep running the world’s largest technology company.

The equity comes in two packages, according to a regulatory filing on Tuesday. The first comprises 333,987 restricted stock units that vest in thirds on April 1 in 2023, 2024 and 2025. The other has 333,987 units that will vest Oct. 1, 2023 and is based on Apple’s relative share performance over three years. Cook may get none of this award or 200%, depending on stock returns. If all goes well, Cook would get about 1 million shares in total.