Jamie Dimon, CEO of JPMorgan Chase received a $17 million bonus

February 18, 2011 - 11:09am | Banks and internet banks | News |
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 Jamie Dimon, CEO of JPMorgan Chase received a $17 million bonus

 

According to a regulatory filing CEO of JPMorgan Chase Jamie Dimon has received restricted stock and options that could be worth $17 million at current valuations.  

Other payments to Dimon, who runs the second-largest U.S. bank by assets, including salary, bonuses will be disclosed later.  

However Dimon will not be able to get his money immediately. According to the filing submitted today he got 251,415 units of restricted stock, half of them vests on Jan. 13, 2013, while the other half vests a year later.  

The same is with stock options totaling 367,377 with a strike price of $47.73 a share. Stock appreciation rights, which have a ten-year term, become exercisable in five equal installments beginning January 19, 2012. Shares resulting from exercise must be held at least five years from the grant date. 

It is also said that Dimon may lose some of his awards, or vesting could be delayed. The conditions can be the following: dismissal, activity that resulted in losses, important risks or hurt the reputation of bank.

 

There are also some other payouts made to heads of banks. So, Bank of America CEO Brian Moynihan received in 2010 $950,000 and $9.05 million as a salary and bonus accordingly. Morgan Stanley CEO James Gorman received award worth $7.4 million in restricted stock and options.  Lloyd Blankfein CEO of Goldman Sachs received $600,000 salary and award worth $12.6 million in restricted stock units. However it was said that starting this year his salary will increased to $2 million.

 

 




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