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
Minnesota jewelry designer Emily Johnson is among those upset with Amazon over its new AI feature, which uses product images and descriptions from their websites.
