NEW YORK CITY (dpa-AFX) - JPMorgan Chase & Co. (JPM) disclosed in a regulatory filing on Thursday that its chief executive officer, James Dimon, received an annual compensation of $39.00 million in 2024, an increase of 8.3% from last year's $36.00 million.
The annual compensation for 2024 reflects Dimon's stewardship of the Firm, with growth across all of its market-leading lines of business, record financial results and a fortress balance sheet, and continues to demonstrate strong pay-for-performance alignment, the company said in the filing.
According to the company, Dimon's total compensation included an annual base salary of $1.50 million and performance-based variable incentive compensation of $37.50 million. $5 million of the variable incentive compensation will be delivered in cash and the remaining $32.50 million will be delivered in the form of at-risk Performance Share Units or 'PSUs'. PSUs tie 100% of Dimon's annual equity-based compensation to ongoing performance metrics, representing 87% of his total variable incentive compensation.
Separately, Dimon and his family plan to sell approximately 1 million shares of their JPMorgan stock holdings for financial diversification and tax-planning purposes. After the contemplated sales, Dimon will continue to have a significant stake in the company, with he and his family currently holding approximately 7.5 million shares. He also continues to have unvested Performance.
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