Biz Journal-
Bank of America Corp. chairman and CEO Brian Moynihan, a Wellesley resident, earned over 20 percent more last year than he did in 2016, as his total compensation rose to nearly $40 million.
Moynihan made $39.9 million in 2017, including the value realized on the vesting of previously issued stock awards, according to the company’s (NYSE: BAC) proxy filing. In 2016, he made $33.2 million.
Moynihan’s pay rose mostly because Bank of America handed him higher stock awards based on the company’s performance. Its pre-tax earnings were up significantly last year. In the proxy, the bank pointed to an increase in mobile users and upgraded long-term debt ratings as among Moynihan’s accomplishments in 2017.