Bloomberg News reports that Moynihan, 58, received $21.5 million in stock grants and a $1.5 million salary, the Charlotte, North Carolina-based lender said Friday in a regulatory filing. Half of the equity awards are linked to performance over three years. The rest includes restricted stock units that vest regardless of performance and others that settle in cash within one year. He hasn’t received a cash bonus since 2007.
Moynihan has sought to trim costs and boost profits after years of grappling with legal and regulatory headaches stemming from the financial crisis. In 2017, expenses fell 1 percent and profit increased 3 percent.
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