CEO

Wells Fargo CEO 2010 pay package valued at $17.6M

AP News
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Posted: Mar 21, 2011 4:49 PM
Wells Fargo CEO 2010 pay package valued at $17.6M

John Stumpf, the CEO of Wells Fargo & Co., received compensation valued at $17.56 million in 2010, a 6 percent decrease from 2009, according to an Associated Press analysis of regulatory filings.

The San Francisco-based bank credited Stumpf with helping it earn record income of $12.4 billion last year, increasing its market share and positioning the company for success following the financial crisis and regulatory reform.

The bank's revenue in 2010 slid to $85 billion from $88 billion the previous year, however.

For the 12 months ended Dec. 31, Stumpf was awarded a salary of $3.24 million, a performance-based stock bonus of $11 million, and a cash bonus of $3.3 million, according to documents filed with the Securities and Exchange Commission on Monday. That compares to a salary of $5.6 million, a stock award of $13.08 million, and zero cash bonus in 2009.

Stumpf's total compensation of $18.7 million in 2009 made him among the nation's highest-paid bank CEOs.

Stumpf's perks totaled $28,531 and included matching contributions to his retirement plan, home security system expenses, a car and a driver.

The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.