The software firm granted Cook a million shares in the group in August last year, as an incentive to continue filling the shoes of late co-founder Steve Jobs.

While Cook’s pay and performance bonus are worth about $900,000 each, most of the sum is made up of restricted stock units with an initial value of $376 million, The Daily Mail reports.

According to the report, the deal is designed to keep Cook at the helm of the company for the next decade, and allows him to collect half of the shares in 2016, and half in 2021.

In comparison, Steve Jobs took $1 annual salary for years and owned about 5.5 million shares, worth about $2.3 billion today.

Cook has about 1.36 million restricted shares that haven't yet vested, and 13,754 regular shares worth a combined $580 million dollars, the report said.

His pay package is well above that given to Philippe Dauman, the Viacom Inc. chief executive who led the top paid CEOs of 2010 with 84.5million dollars.

Jobs, who served as Apple’s chairman and CEO, accepted an annual salary of just one-dollar for several years.