Bank of America CEO pay jumped 77 percent

Bank of America CEO Brian Moynihan saw his compensation jump by 77 percent last year as the company's fortunes improved.

Moynihan's total compensation was $13.1 million, according to an Associated Press calculation based on a filing made by the company on Friday.

The bulk of his pay was $11.1 million worth of stock awards granted in February 2013. He also had a base salary of almost $1.5 million. Company perks totaled $497,751, most of which was for personal use of the company plane.

Bank of America's finances have been improving. Last year its profit more than tripled to $10 billion, and it has been cutting staff and focusing on its core businesses.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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