JPMorgan Board Awards CEO Dimon Stock Options to Stay at Bank
JPMorgan Chase & Co.’s board awarded Chief Executive Officer Jamie Dimon a long-term award in a bid to keep banking’s most prominent leader at the helm for a “significant number of years.”
The board awarded 1.5 million stock appreciation rights, which are like options and will let Dimon capture a profit if the stock price rises in the coming years. “This special award reflects the Board’s desire for Mr. Dimon to continue to lead the Firm for a further significant number of years,” the board said in a regulatory filing. “In making the special award, the Board considered the importance of Mr. Dimon’s continuing, long-term stewardship of the Firm, leadership continuity, and management succession planning amidst a highly competitive landscape for executive leadership talent.” Dimon won’t be able to exercise the options for at least five years, and must hold any net shares gained from the award until mid-2031.
https://www.bnnbloomberg.ca/jpmorgan-board-awards-ceo-dimon-stock-options-to-stay-at-bank-1.1631112