JPMorgan Chase shareholders reject options bonus for CEO Jamie Dimon
Thirty-one percent of shareholders participating in JPMorgan Chase & Co.'s (JPM) annual meeting supported a $52.6 million options award to CEO Jamie Dimon in his 2021 compensation package, according to a transcript of the event on Tuesday. Dimon drew the bonus on top of his regular pay to bring home total compensation of $84.4 million, roughly double from 2020. The shareholder vote was a formality since Dimon has already received the pay. While compensation packages have been approved by more than 90% in the past, this year advisory firms Glass Lewis & Co. and Institutional Shareholder Services Inc. recommended against the compensation package, which was awarded as an incentive from the board of directors for Dimon to remain in his job for five more years. Shares of JPMorgan Chase rose 3.8% on Tuesday but are down 22.4% for the year, compared to a drop of 10.1% by the Dow Jones Industrial Average .
(END) Dow Jones Newswires
May 17, 2022 15:50 ET (19:50 GMT)
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