Tags: Bank CEO Pay

Bank of America CEO Got Sixfold Raise Last Year

Wednesday, 28 Mar 2012 01:23 PM

The CEO of Bank of America was paid $7.5 million last year — six times what he got in 2010. That's according to an Associated Press analysis of a regulatory filing out Wednesday.

The bank says Brian Moynihan's pay package for 2011 included a salary of $950,000, a $6.1 million stock award and about $420,000 worth of use of company aircraft and tax and financial advice.

It happened in a year when Bank of America stock plunged 58 percent. The bank struggled with lawsuits from investors who had bought securities backed by problematic mortgage loans.

The AP uses a calculation that isolates the value a company's board places on the CEO's total pay package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
129
2012-23-28
Wednesday, 28 Mar 2012 01:23 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved