Morgan Stanley’s Gorman Gets $14 Million Pay Package for 2010
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Morgan Stanley’s James Gorman received a $14 million compensation package for his first year as chief executive officer, less than the $15 million he was awarded for 2009, as the firm missed profit goals.
Gorman, 52, got a $1.55 million cash bonus, his first since at least 2007, according to a proxy filing yesterday by the New York-based firm. He also received a deferred cash bonus of $2.33 million that can be clawed back, in addition to his salary, stock, option awards and other compensation. About $1.94 million of Gorman’s $5.82 million in stock compensation is tied to company performance measures.