Bank of America CEO pay jumped 77 percent

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Associated Press

Posted on March 8, 2014 at 7:02 AM

Updated Saturday, Mar 8 at 7:02 AM

Bank of America CEO Brian Moynihan saw his compensation jump by 77 percent last year as the company's fortunes improved.

Moynihan's total compensation was $13.1 million, according to an Associated Press calculation based on a filing made by the company on Friday.

The bulk of his pay was $11.1 million worth of stock awards granted in February 2013. He also had a base salary of almost $1.5 million. Company perks totaled $497,751, most of which was for personal use of the company plane.

Bank of America's finances have been improving. Last year its profit more than tripled to $10 billion, and it has been cutting staff and focusing on its core businesses.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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