The company said its Board approved $29,000,000 in total compensation for Chair and Chief Executive Officer Brian T. Moynihan for 2023, compared with total compensation of $30,000,000 for 2022.

1. 01

   The company said its Board approved $29,000,000 in total compensation for Chair and Chief Executive Officer Brian T. Moynihan for 2023, compared with total compensation of $30,000,000 for 2022.

2. 02

   Bank of America said net income for 2023 was $26.5 billion, down 4% from 2022. In Q4, the company cited the Federal Deposit Insurance Corporation special assessment ($2.1 billion pre-tax) and charges related to the Bloomberg Short-Term Bank Yield Index cessation ($1.6 billion pre-tax). Excluding these items, net income was $29.3 billion, up 6%.

3. 03

   The company said shareholders' equity at the end of 2023 was approximately $292 billion and liquidity levels were $897 billion. It also said it returned $12 billion to shareholders during 2023 through dividends and common stock repurchases.

4. 04

   The company said Moynihan's equity incentive for 2023 is valued at $27.5 million and there is no cash bonus. Of this, 50% is performance RSUs that will be re-earned only if performance standards are met over the 3-year period from 2024 through 2026.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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