Stumpf's 2013 compensation, valued at $19.3 million, was virtually unchanged from 2012, the company said Tuesday in its annual proxy. But Stumpf gained nearly $60 million from previously issued stock options and restricted shares.
About $50.5 million came from vested shares. Wells Fargo said about half the shares were granted in 2010 as part of a long-term incentive compensation plan for executives. The rest were retention shares granted in 2009. Stumpf gained another $8.6 million exercising stock options.
Stumpf, 60, has been CEO since 2007 and lede the bank's 2008 purchase of Wachovia Bank.
Among other banks to report 2013 executive compensation:
Citigroup CEO Michael Corbat received compensation valued at $17.6 million, up 42% from 2012. Corbat gained another $2 million from vested shares.JPMorgan's Jamie Dimon received $20 million, up 74% from 2012. Goldman Sachs' Lloyd Blankfein got about $23 million, up 10%.Capital One's Richard Fairbank received $18.2 million, down 19%. Fairbank gained over $23 million from vested shares and previously issued stock options.
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Wells Fargo's 2013 shareholder return was 37%, outpacing JP Morgan Chase (36%) Capital One (34%) and Citigroup (32%). Goldman Sachs gained 40.6%.
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