Morgan Stanley boss receives over $5m in shares

James Gorman Pic

Morgan Stanley Chairman and CEO James Gorman’s compensation package for last year includes a $5.06m stock bonus that’s almost double his 2012 equity award.

Bloomberg reports that Gorman, 55, will get 155,207 restricted shares, according to a filing yesterday with the U.S. Securities and Exchange Commission. That’s in addition to his $1.5m salary, which the company almost doubled last year from a previous level of $800,000. The firm will disclose details about his cash bonus and long-term incentives later this year.

Gorman got a $6m award for 2012 that included $2.63m in stock options and $2.58m in deferred cash in addition to his $800,000 salary. He also received a $3.75m long-term incentive dependent on the bank hitting performance targets.

To access the complete Bloomberg article hit the link below:

Morgan Stanley Gives Gorman $5.06 Million of Shares for 2013 

Citigroup Prepares Korean Branch Cuts to Focus on Cities 

Bank Workers CharityBank Workers Charity - Supporting bank workers

Register for Financial Markets News Alerts