Apple CEO’s Pay at $378 Mln

Cook’s 2011 compensation gets boost from restricted stock awards.

Apple Inc. Chief Executive Officer Tim Cook will receive compensation for 2011 worth $378 million, boosted by restricted stock awards that are payable over the coming decade.

The total includes $376.2 million in shares that will vest starting in five years, Cupertino, California-based Apple said yesterday in a proxy filing to shareholders. Cook’s base salary was $900,000 in 2011. The company, which plans to hold its annual shareholder meeting on Feb. 23, had previously disclosed that Cook received 1 million restricted shares in August.

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