Apple gives COO Cook $5 million bonus, stock for performance during Steve Jobs’ medical leave

Apple gives chief operating officer $5M bonus

CUPERTINO, Calif. — Apple Inc. is giving its chief operating officer a $5 million bonus for “outstanding performance” running the company while CEO Steve Jobs was on medical leave.

Timothy Cook will also receive 75,000 restricted stock units scheduled to vest in 2011 and 2012, Apple said in a regulatory filing Friday.

Cook, who joined Apple in 1998, is the company’s highest-paid executive. In 2009, Cook received an $800,400 salary; $800,000 in nonstock incentive compensation; and about $40,900 in company matches to his retirement account, life insurance premiums and cash for unused vacation days.

Cook also holds 13,741 shares of Apple stock and 500,000 additional restricted stock options.

Jobs, a pancreatic cancer survivor, was on leave from January through June 2009. He received a liver transplant during that time.