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JPMorgan Chase & Co announced on Tuesday that it had granted CEO Jamie Dimon 1.5 million options in the form of stock appreciation rights.
“This special award reflects the desire of the board of directors to see Mr. Dimon continue to lead the company for a significant number of years to come,” the bank’s board of directors said in a filing.
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The Board of Directors took into account what it called “the importance of Mr. Dimon’s continued and long-term management” when approving the award, which is structured to encourage retention. a good performance.
JPMORGAN GETS MORE THAN DOUBLE, BUT REVENUES FUCK
Dimon, who has run the bank as CEO since December 2005, cannot exercise the options for at least 5 years. The net shares he earns from options must be held until 2013, according to the record.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 149.71 | +2.74 | +1.86% |
The reward will vest as long as Dimon remains employed by JPMorgan, or if he leaves the bank for a government position or due to a disability, depending on the record.
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(Reporting by Noor Zainab Hussain in Bangalore and Elizabeth Dilts Marshall in New York; editing by Chris Reese)
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