April 4, 2012 / 9:45 PM / 7 years ago

CEO Dimon's pay at JPMorgan rises 11 percent to $23.1 million

(Reuters) - JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon received $23.1 million in compensation in 2011, an 11 percent increase from the previous year, the company said in a public filing on Wednesday.

Dimon, 56, was paid a bonus of $4.5 million and given $17 million in stock and options on top of $1.4 million in salary, according to a disclosure using a format specified by the U.S. Securities and Exchange Commission. The previous year Dimon had received total compensation of $20.8 million, including a $5 million bonus and stock instruments worth $14.2 million.

Dimon’s pay as head of the biggest U.S. bank by assets was higher than that of chiefs of the other three banks which have more $1 trillion in assets. At Wells Fargo & Co, (WFC.N) the fourth biggest bank, CEO John Stumpf received $19.8 million, up about 5 percent from 2010, and Citigroup Inc (C.N) CEO Vikram Pandit received $14.9 million, up from a nominal one dollar in 2010, according to the SEC formula.

At Bank of America Corp, the second biggest U.S. bank, (BAC.N) CEO Brian Moynihan received $8.1 million, more than four times as much as he received in 2010.

JPMorgan shares in 2011 declined 22 percent. Revenue declined 5 percent during the year while net income available to common shareholders rose 11 percent to $17.6 billion from the prior year.

According to JPMorgan’s preferred format for disclosing compensation, which uses a slightly different time frame than the SEC, Dimon was paid the same amount for work he did in 2011 as in 2010, $23 million. He received some of the 2011 compensation in this calendar year.

The SEC disclosure method also shows how much compensation executives received during a year and includes perks such as private use of company aircraft. In 2011, Dimon’s other compensation amounted to $143,277, which was primarily for personal use of aircraft and cars. That was down from $579,624 in 2010 when he was also reimbursed for $421,458 in moving expenses.

Reporting by David Henry in New York. Editing by Gunna Dickson

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