Wells Fargo (WFC) shares are up 41 cents, or 1.5%, at $27.23, after the company this morning announced its CEO, John Stumpf, as well as its CFO, its wholesale banking director, and its consumer finance director will not receive cash bonuses for the year. Instead, they’ll be given stock grants vesting after three years and contingent on meeting certain unspecified performance goals, the company said.
Mr. Stumpf’s grant has a value of $10 million, while the other three receive a grant of $5 million.
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