American Express Lifts Chenault's Pay 19% to $22 Million for '16

American Express Co., the biggest credit-card issuer by customer spending, paid Chief Executive Officer Ken Chenault $22 million for his work in 2016, a 19 percent increase from a year earlier.

Chenault’s pay includes $16.8 million in stock tied to future performance, $3.2 million of options and a $2 million salary, the New York-based lender said Monday in its annual proxy filing. The company’s compensation committee decided to give Chenault, 65, more equity instead of a $6.63 million cash bonus that would have been paid immediately, according to the proxy.