JPMorgan's Dimon got no hike in 2014, was paid cash bonus
(Reuters) - JPMorgan Chase & Co's (JPM.N: Quote) Jamie Dimon's compensation in 2014 stayed unchanged at $20 million, but the chief executive officer got a cash bonus, something he was not awarded in 2013.
Dimon's compensation in 2014 comprised a base salary of $1.5 million, $11.1 million in restricted stock and a $7.4 million cash incentive bonus, the company said in a regulatory filing.
His package in 2013 was composed of a base salary of $1.5 million and $18.5 million in restricted stock units.
JPMorgan is the biggest U.S. bank, with $2.6 trillion in assets. Dimon, 58, is the most outspoken of big bank CEOs and has recently bristled at public criticism that JPMorgan is too big and complex to manage safely and efficiently.
JPMorgan did not explain its rationale for the compensation decisions. The board is expected to provide an explanation in a proxy statement to be filed ahead of the company's annual meeting in May.
Two year ago, Dimon's pay was cut in half to $11.5 million for 2012, which was the year JPMorgan traders handling company accounts lost $6.25 billion in the so-called "London Whale" derivatives transactions. Previously, Dimon had received $23 million for each of 2011 and 2010.
Dimon was treated for throat cancer in the latter half of 2014.
JPMorgan said on Thursday that the base salaries also remained unchanged at $750,000 for other operating committee members, except Daniel Pinto, the London-based chief of corporate and investment banking.
Chief Financial Officer Marianne Lake and asset management chief Mary Erdoes got an increase in total compensation, while compensation was kept unchanged for other operating committee members. Continued...