BofA Reports Moynihan’s Compensation Cut to $1.94 Million
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Bank of America Corp., the biggest U.S. lender by assets, cut Chief Executive Officer Brian T. Moynihan’s compensation by 70 percent to $1.94 million in 2010.
Moynihan’s salary rose to $950,000 from $800,000, the Charlotte, North Carolina-based lender said today in a proxy filing, while stock awards dropped to zero from $5.2 million in 2009. The figures conform to Securities and Exchange Commission guidelines. By the bank’s measure, Moynihan earned $10 million for 2010, according to the filing.