The recession is officially over for Jamie Dimon.
The JPMorgan Chase (jpm) CEO just got a $17 million stock bonus for 2010. That is the richest reward for a Wall Street chief so far this bonus season and pushes Dimon's pay back toward the levels that prevailed before the financial meltdown of 2008.
The big payday comes after the bank posted a 48% profit gain for the past year. Investors are now waiting for JPMorgan to get permission to raise its dividend, a development they hope will push the stock out of its yearlong funk.
The bonus was disclosed in a securities filing that didn’t say what Dimon’s salary or cash bonus were. Those figures will be disclosed next month, when JPMorgan files its annual proxy statement.
Dimon got $12 million in stock options, half of which vest next year and the rest the year after, and $5 million in stock appreciation rights that start becoming exercisable next year. Dimon won’t be able to cash them all in for a decade.
Odds are that he won’t run out of money before then, however. Dimon took just $1.3 million in compensation for 2009, according to the latest available JPMorgan pay data, including $1 million in salary. But in the two years prior his compensation clocked in at $36 million and $29 million.
His 2010 haul may not approach those figures, but the Financial Times reports that Dimon will get a cash bonus for the first time in three years. If you hadn't noticed, it is back to business as usual on Wall Street.
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