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No Spend Zone: Not Union Friendly Companies
Wells Fargo, Bank of America, Chase & Citicorp are killing the American Middle Class and need to be stopped
MIDDLE CLASS you can MAKE A DIFFERENCE take your MONEY OUT OF THE BIG FOUR!. . . They need to be stopped.
Wells Fargo & Co (WFC.N), the fourth-largest U.S. bank by assets, paid Chief Executive John Stumpf compensation worth $21.3 million for 2009, a package that likely makes him the highest-paid U.S. bank CEO, according to materials filed with U.S. regulators.
The cash salary for Stumpf will remain at $900,000 and he will receive an annual salary in stock of $4,700,000. Stumpf received a grant of 108,528 restricted share rights (RSRs), which will begin to vest in 2011, also subject to prior repayment of CPP funds by the Company. Upon vesting, each RSR will entitle him to one share of stock. The Board also approved increases in 2009 annual salaries in stock for:
- Dave Hoyt, senior executive vice president (SEVP) and head of Wholesale Banking, of $3,166,667, with his cash salary remaining at $700,000;
- Mark Oman, SEVP and head of Home and Consumer Finance, of $3,266,667, with his cash salary remaining at $600,000; and
- Howard Atkins, SEVP and chief financial officer, of $2,639,156, with his cash salary remaining at $700,000.
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