March 11 (Bloomberg) -- Regions Financial Corp., Alabama’s biggest bank, gave Chairman and Chief Executive Officer Grayson Hall a 3.9 percent pay raise for his work in 2013.
Hall’s total pay for last year was $7.39 million, the Birmingham-based lender said today in a filing with the U.S. Securities and Exchange Commission. His compensation package included a $975,000 salary, $1.92 million cash bonus and a $4.5 million long-term award of restricted stock and cash to be paid out if the firm meets profitability targets.
Hall, 56, was awarded $7.12 million for his work in 2012 when the firm was still repaying its government bailout. The Troubled Asset Relief Program prohibited awarding cash compensation based on performance.
Regions increased 39 percent last year and has advanced 9.2 percent in 2014.
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