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JPMorgan Grants CEO Jamie Dimon Stock Bonus Worth $17 Mln

Financial News Network
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February 18, 2011 AT 1:49 PM
JPMorgan Chase & Co. (JPM) has granted Chairman and CEO Jamie Dimon stock and options worth $17 million, the AP and other news outlets report citing a late-Thursday filing. The filing said JPM granted Dimon 251,415 restricted stock units, of which half vest in January 2013 and the rest the following year. Based on the stock's closing price Wednesday, the day the units were granted, the award is worth $12.1 million. Dimon, 54, also received 367,377 stock appreciation rights, which have a 10-year term and become exercisable in five installments staring next January. Using the Black-Scholes calculation method, the rights are valued at about $5 million. Dimon's salary and other compensation weren't disclosed in Thursday's filing.