Good point, but the issue still stands - it's less stock per year than Jobs' compensation, not taking into account any other standard compensation that Cook will receive. My understanding of a grant is that the stock can be vested or restricted, although I assume that after a 5-year wait it will be vested when Cook receives it, so he'll owe taxes on it.

That's probably why a 5-year period also favors Cook because Apple will be required to withhold tax on the market value of the stock, and it's tricky how that withholding is paid - for cash grants they withhold a percentage of that sum to satisfy the estimated tax, but unfortunately for stock grants, sometimes the grantee is required to pay that estimated withholding to his/her company if they don't have enough cash compensation to offset it. I'm interested to hear how Cook gets around that $100m+ tax liability, but he has 5 years to prepare.