Bank of America has tied its CEO’s last years pay out to its performance over the next four years, Financial Times reports. Brian Moynihan is likely to earn around $9.1 million in restricted stock if the U.S. lenders profits remain above 0.80% of its assets till 2015.
BofA gave $14.3 million in bonuses to its investment banking chief, Thomas Montag. None of BofA’s executive officers received a cash bonus, and it did not grant Moynihan any “cash-settled stock units,” defined as cash paid out over 12 months contingent on share performance.
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