JPMorgan, $JPM, raises CEO Dimon's pay 4.3% to $36 million for 2023

JPMorgan, $JPM, raises CEO Dimon's pay 4.3% to $36 million for 2023, per Bloomberg.

Jamie Dimon, the CEO of JPMorgan Chase, saw a 4.3% increase in his compensation for 2023, reaching $36 million, as disclosed by the bank on Thursday. This rise follows his $34.5 million pay in both 2022 and 2021 during a period marked by economic uncertainties, geopolitical tensions, and the ongoing impact of the COVID-19 pandemic.

Dimon's 2023 compensation package included a base salary of $1.5 million and a performance bonus of $34.5 million, consisting of $5 million in cash and $29.5 million in stock, according to regulatory filings. The bank's board emphasized that Dimon's annual compensation reflected his effective leadership, driving growth across various business lines, achieving record financial results, and maintaining a strong balance sheet. The filing also highlighted the successful handling of regional bank challenges and the completion of the acquisition of First Republic.

JPMorgan reported its highest-ever annual profit in the previous year, with its net interest income reaching record levels after the acquisition of First Republic Bank. Dimon, who has been leading JPMorgan since 2005, has an estimated net worth of $1.7 billion according to Forbes.

In October, it was announced that Dimon and his family intended to sell 1 million of their 8.6 million shares, with the decision unrelated to leadership succession. The bank clarified that Dimon had no immediate plans for further stock sales but might consider it in the future.