Cook unlocks $100M in 5-yr. stock awards

Happy anniversary, Tim — here’s $100 million.

Apple Chief Executive Tim Cook unlocked previously awarded stock bonuses worth more than $100 million on Wednesday, which marked the fifth anniversary of him being named to succeed Steve Jobs as CEO.

Cook got a whopping 700,000 shares that vested Wednesday, capping a series of annual awards over the past five years that bring his total ownership in the company to 980,000 shares.

With Apple’s shares closing Wednesday at $108.03, that chunk of stock was valued at $105.9 million.

The payout comes as Cook struggles to maintain the red-hot growth that the Cupertino, Calif., company enjoyed under Jobs, who unveiled the iMac and iPod in the first five years of his second stint as CEO.

By comparison, Cook’s list of innovative products introduced in his five-year tenure is just the Apple Watch, which has had a lukewarm reception.

Watch sales tumbled 55 percent in the second quarter, according to research firm IDC.

Elsewhere, Cook has suffered criticism for last year’s rollout of Apple Music, a belated and glitch-ridden challenger to the Spotify music-streaming service.

In Apple’s most recent quarter, total revenue dropped 14 percent — the tech giant’s second quarterly decline in a row after logging 13 straight years of growth. An unprecedented drop in iPhone sales has fueled this year’s disappointments.

Still, Apple became the most valuable company in the world on Cook’s watch in 2012, after he took the reins upon Jobs’ death. Apple’s stock price has since more than doubled.