You're misunderstanding options vs shares here. He was only given 100,000 shares ($5 million/year). The options only give him the right to purchase shares at

You're misunderstanding options vs shares here. He was only given 100,000 shares ($5 million/year). The options only give him the right to purchase shares at today's price in the future. If the stock goes up substantially, he can profit on it, but the options could also be worthless if the stock price remains flat or goes negative. If the stock goes up 10%, the options would be worth ~$29 million (option to buy 1.4 million shares at a price of 208 then sell them at the future market price of 228)