Wells Fargo & Co. Chief Executive John Stumpf, whose bank is preparing to convert its Wachovia bank network in Connecticut and elsewhere to fly Wells Fargo’s flag, received a pay package valued at $21.3 million last year, up from nearly $8.8 million in 2008, the Charlotte Business Journal reports.
According to a filing with the Securities and Exchange Commission, Stumpf received a salary of $5.6 million and stock awards of more than $13 million, the newspaper reported today on its Web site. He also received nearly $2.6 million from changes in the value of his pension and nonqualified deferred compensation.
Other compensation amounted to $72,786.
Stumpf’s base salary for 2008 was $878,920. He also received options valued at $7.9 million and other compensation of $242,167, the CBJ said.
Last year, San Francisco-based Wells earned $8 billion, or $1.75 per diluted share, up from $2.4 billion, or 70 cents per diluted share in 2008. The results reflect a full year’s ownership of Charlotte-based Wachovia Corp., which Wells acquired for $12.7 billion on Dec. 31, 2008.
