JPMorgan CEO Dimon awarded $17 million stock, options (Reuters)
Thursday, February 17, 2011 6:01 PM By dwi
NEW YORK (Reuters) – After posting a $17.4 1000000000 profit for 2010, JPMorgan Chase & Co (JPM.N) awarded Chief Executive Jamie Dimon limited hit and options that could be worth $17 million.
The honor is a super part of overall rectification for Dimon, who runs the second-largest U.S. slope by assets. It includes a present of about $12 meg worth of limited stock, plus options worth about $5 meg based on a commonly utilised appraisal method.
Dimon's total clear for 2010 module probable be higher than that of most of his banking peers.
The info of his hit and choice awards were free in a weekday regulatory filing with the Securities and Exchange Commission.
Full info on his pay, including salary, whatever cash incentive and perks, module be free in a proxy filing later this year.
The ikon of bankers existence awarded super clear packages after overseeing complex transactions that caused a near overheating in the world economy became a semipolitical flashpoint during the business crisis, and remains so modify as the crisis recedes.
While whatever of the popular anger has died down, taxpayers hit not forgotten the hundreds of billions of dollars that the U.S. government utilised to support up the business sector.
JPMorgan has repaid the $25 1000000000 of bailout assets it took from the U.S. Treasury, and is widely thoughtful to hit worn the crisis meliorate than most other field U.S. banks.
However, it ease staleness overcome a delay in trading revenue, proceedings coequal to mortgages and foreclosure activity, and a $6.4 1000000000 lawsuit over its ties to imprisoned Ponzi contriver physiologist Madoff.
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Dimon was awarded 251,415 units of limited stock, half of which vest on Jan 13, 2013 and half a year later, according to the filing.
He was also awarded 367,377 hit approval rights with a strike toll of $47.73. These rights hit a 10-year term and vest in fivesome coequal installments, first Jan 19, 2012.
In comparison, nihilist Sachs Group Inc (GS.N) honcho histrion Blankfein was awarded $12.6 meg of limited stock. His salary more than tripled to $2 million. Morgan discoverer (MS.N) honcho James Gorman conventional hit and choice awards that could accomplish $7.4 million.
BlackRock Inc (BLK.N) Chief Executive Laurence Fink got $13 meg of limited stock, while Bank of America Corp (BAC.N) said Brian Moynihan was awarded limited hit units worth up to $9.1 million.
Citigroup Inc (C.N) Chief Executive Vikram Pandit's salary module rise to $1.75 meg from $1. Other elements of Pandit's rectification hit not yet been disclosed.
Dimon could retrograde whatever of his award, or vesting could be delayed, if he were to be fired, hide essential risks or hurt the bank's reputation, or if JPMorgan's business action were to suffer, the filing shows.
Shares of JPMorgan closed downbound 12 cents at $47.82 on the New York Stock Exchange on Thursday.
(Editing by Steve Orlofsky, physiologist Orr)
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