Wells Fargo CEO's pay doubles to $18.7 million
NEW YORK
Wells Fargo CEO John Stumpf's compensation more than doubled to $18.7 million in 2009, a year that saw the bank report $8 billion in profit and repay government bailout money, according to an Associated Press analysis of regulatory filings.
Wells Fargo & Co. says that Stumpf received a $5.6 million salary made up mostly of company stock and a separate $13 million performance-based stock bonus.
Stumpf's 2008 compensation totaled $9 million, 21 percent less than the previous year. His 2009 pay makes him among the nation's highest-paid bank CEOs.
The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
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