The company said the Compensation Committee set Jane Fraser's direct compensation as CEO for 2024 performance at $34.5 million. It consists of a base salary of $1.5 million and a total incentive award of $33 million.

1. 01

   The company said the Compensation Committee set Jane Fraser's direct compensation as CEO for 2024 performance at $34.5 million. It consists of a base salary of $1.5 million and a total incentive award of $33 million.

2. 02

   Citigroup said it allocated the total incentive as 15% cash ($4.95 million), 35% deferred stock ($11.55 million) and 50% PSUs ($16.5 million). The deferred stock vests ratably over 4 years and is subject to performance conditions.

3. 03

   The company said it determined the number of deferred stock shares by dividing the nominal amount by the average of the closing prices of Citi common stock on the 5 business days immediately preceding the Grant Date ($81.432). It said the target number of PSUs was also calculated using the average price over the same 5 days.

4. 04

   The company cited the following as factors in the compensation decision: full-year 2024 revenue of $81.1 billion, up 3% from 2023; net income of $12.7 billion, up 37%; and diluted earnings per share of $5.94, up 47%. It said it returned $6.7 billion of capital to common shareholders and that its CET1 ratio was 13.6%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.