Bank of America CEO Brian Moynihan’s stock bonus nearly doubled this year, to $11 million [View all]

via Occupy Fights Foreclosures and Casa Perez.

http://www.charlotteobserver.com/2013/02/19/3864990/bank-of-america-ceo-brian-moynihans.html

Bank of America CEO Brian Moynihan’s stock bonus nearly doubled this year, to $11 million, reflecting a steep share price rise and the board’s apparent confidence in Moynihan’s progress on the bank’s legal issues and capital position.

And going forward, he’s getting a base salary increase as well: to $1.5 million from $950,000, according to a person familiar with the matter.

This year’s stock grant, disclosed in a securities filing Tuesday, is a sharp increase from the $5.9 million in stock awarded in February 2012, back when shares were trading close to $8. Bank of America’s stock was the best performer in the Dow Jones Industrial Average by the end of the year, and shares closed at $12.19 on Tuesday.

Stock grants for Bank of America’s other top executives remained more steady. After two years of being the bank’s top stock award earner, co-chief operating officer Tom Montag received a grant worth about $8.2 million. His counterpart, Charlotte-based David Darnell, received a grant worth $5.2 million.

(More at the link.)