Morgan Stanley CEO Gorman's total 2019 pay falls 7per cent to US$27 million

Morgan Stanley CEO Gorman's total 2019 pay falls 7per cent to US$27 million

Channel NewsAsia - Business·493 views·2020-01-18 06:05

Morgan Stanley said on Friday that its board lowered Chief Executive Officer James Gorman's total compensation for 2019 to US$27 million, from US$29 million in 2018, according to regulatory filings.

FILE PHOTO: James P. Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committeeon Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein/File Photo

NEW YORK: Morgan Stanley said on Friday that its board lowered Chief Executive Officer James Gorman's total compensation for 2019 to US$27 million, from US$29 million in 2018, according to regulatory filings.

Gorman's compensation is comprised of four parts: a base salary of US$1.5 million; a cash bonus of US$6.375 million; a deferred equity award of US$6.375 million; and a performance-vested equity award of US$12.75 million.

The board again required that 75per cent of Gorman's incentive compensation be deferred over three years subject to a claw-back, and for all of that compensation to be paid in the form of equity in the company.

(Reporting by Elizabeth Dilts Marshall; Editing by Leslie Adler)

America Business Finance International

Comments

Leave a comment in Nestia App