Reuters
Bank of America board approves CEO Moynihan's 2017 incentive compensation
FILE PHOTO - Brian T. Moynihan, Chairman and Chief Executive Officer of the Bank of America Corporation, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2018. REUTERS/Denis Balibouse · Reuters · Reuters
Reuters

(Reuters) - Bank of America Corp said on Friday its board had approved Chief Executive Brian Moynihan's incentive compensation for 2017.

Moynihan's 2017 equity incentive award has been raised to $21.5 million from $18.5 million in 2016.

However, he received no cash bonus for 2017 and his annual base salary remains unchanged at $1.5 million, the company said.

Moynihan's compensation comprises base salary, time-based restricted stock units (RSUs) and performance RSUs that will be paid only if Bank of America meets specific financial goals.

(Reporting by Nikhil Subba in Bengaluru)

Terms and Privacy Policy
Your Privacy Choices
Utah Privacy Notice
More Info

Recommended Stories