Business

Mar 15, 2013 4:57 PM by Juice Godfrey

Wells Fargo awards CEO Stumpf $19.3M last year

Wells Fargo CEO John Stumpf got a pay package valued at $19.3 million last year.

That's 8 percent more than he received in 2011, when his $17.9 million made him one of the highest paid CEOs in the U.S.

Documents filed with regulators show Stumpf's pay package for 2012 included $2.8 million in salary, stock awards worth $12.5 million and a performance-based cash bonus of $4 million. San Francisco-based Wells Fargo & Co. says Stumpf earned the raise as the bank's profits hit a record $18.9 billion last year.

AP's calculation of compensation counts salary, bonuses, perks, as well as stock and options awarded to executives during the year. It excludes changes in the value of pensions, and sometimes differs from the total compensation that companies list in regulatory filings.

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