BofA Increases Moynihan's Pay 15% to $23 Million for Last Year

Bank of America Corp. boosted Chief Executive Officer Brian T. Moynihan’s compensation to $23 million for 2017, a 15 percent increase from a year earlier.

Moynihan, 58, received $21.5 million in stock grants and a $1.5 million salary, the Charlotte, North Carolina-based lender said Friday in a regulatory filing. Half of the equity awards are linked to performance over three years. The rest includes restricted stock units that vest regardless of performance and others that settle in cash within one year. He hasn’t received a cash bonus since 2007.