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The Real Payday for JPMorgan's Jamie Dimon

Jamie Dimon at the World Economic Forum in Davos on Jan. 23
Jamie Dimon at the World Economic Forum in Davos on Jan. 23Photograph by Jason Alden/Bloomberg

Last week JPMorgan Chase chief Jamie Dimon was awarded a 74 percent increase in compensation, to $20 million, for 2013, a year in which the nation’s largest bank set records for the regulatory fines it had to pay.

Apparently that is only part of the picture: The bank’s board of directors is expected to decide whether Dimon can separately collect another 2 million stock options that were negotiated in 2008, according to Bloomberg News. Because of JPMorgan’s strong stock performance, those options are now worth close to $34 million. As Bloomberg Businessweek’s Nick Summers pointed out last week, Dimon is already a substantial bank stockholder, and the performance of JPMorgan’s share price is far more relevant to him than whatever salary the board may decide to give him.