J.P. Morgan Chase & Co. has awarded Chairman and Chief Executive James Dimon stock options for two million shares valued at about $36 million, according to a regulatory filing Thursday.
The company said it awarded Mr. Dimon 2 million special stock appreciation rights at an exercise price of $39.83 in 2008 in recognition of his "stewardship" during the financial crisis. In its filing, the bank said its compensation committee in January 2013 had determined vesting conditions had been met for the awards to Mr. Dimon but that the board deferred for further evaluation of performance goals.
The company said its compensation committee had decided not to defer thevesting further, and said the shares will be exercisable on July 22.
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(END) Dow Jones Newswires
July 17, 2014 21:35 ET (01:35 GMT)
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