How January’s Stock Rout Could Make Wall Street CEOs Even Richer
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Cheaper equities prices mean more shares in award packages
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Citigroup’s Corbat got biggest boost from market slump
As the Standard & Poor’s 500 Index got off to its worst-ever start to a year, there was a silver lining for the leaders of the biggest U.S. banks.
Every January and February, the titans of American finance find out how much they’re getting paid. And every year, bank boards settle on a fixed dollar figure for executive stock awards. To determine how many shares that is, each bank tracks its stock price for a period of time — anywhere from one day to 10 — and divides the fixed dollar value by an average price. Higher stock prices yield fewer shares. Lower prices mean more…
How January’s Stock Rout Could Make Wall Street CEOs Even Richer