Bank Of America CEO Million
March 29, 2012 by staff
Bank Of America CEO Million, Bank of America Corp Chief Executive Officer Brian Moynihan made $8.1 million in total compensation last year, more than four times the $1.9 million he received in 2010, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
But the CEO of the second-largest U.S. bank made less than some of his CEO peers at other major banks – and less than three other Bank of America officers.
Moynihan’s 2011 pay included $6.1 million in performance-based stock that would vest only if the bank were to meet a return on assets measure by the end of 2015. His total compensation also counted $950,000 in salary, $604,698 from a change in pension value and deferred compensation and $420,524 in other compensation, largely related to his use of corporate aircraft.
Moynihan received no cash bonus. In 2011, Bank of America shares fell 58 percent as investors worried about the company’s need for more capital to absorb mortgage-related losses and meet new international capital standards. Those concerns have eased after the bank passed the Federal Reserve’s stress test in March, and the stock has climbed more than 70 percent this year.
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