CEO Pay Watch: John Stumpf, Wells Fargo & Co.

  • Updated: March 19, 2014 - 8:54 AM

John Stumpf, CEO and president, Wells Fargo & Co.

CEO Pay Watch Wells Fargo & Co.

John Stumpf, CEO, Wells Fargo

Total compensation: $66,007,369 for the year ended Dec. 31

Salary: $2,800,000

Non-equity incentive pay: $4,000,000

Other compensation: $20,400

Exercised stock options: $8,665,427

Value realized on vesting shares: $50,521,542

New stock options: 0

Total return to shareholders: 36.7 percent

Note: Performance-based restricted stock awards that were granted three years ago and vested in 2013 contributed $50.5 million to Stumpf’s compensation. His base salary and non-equity incentive pay were the same as last year.

One of the restricted stock awards was granted in December 2009 and vested last March. These “retention performance shares’’ were awarded to Stumpf in 2009 after the company’s acquisition of Wachovia and were meant to keep Stumpf during the three-year integration period following the merger.

Stumpf’s retention stock award vested in full on March 1, 2013. Those share had a grant date fair value of $10.3 million, but Wells Fargo stock had a total return of 38.4 percent during that period and the shares ended up being worth $21.4 million.

Other performance-based restricted stock awards granted in June 2010, but vested in full in March 2013, were worth $28.5 million. Stumpf and other executives earned the full value of that award because Wells Fargo achieved the performance measure, return on realized common equity, for that three-year period.

Patrick Kennedy

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