JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon got a bonus package valued at $17 million for 2009 that did not include any cash.
The 53-year-old banker, who got a $27.8 million bonus for 2007 and only a $1 million salary for 2008, received restricted stock units and options and no cash bonus for last year, spokesman Joseph Evangelista said. The valuation of his 2009 bonus was based on a JPMorgan Chase regulatory filing Friday.
White House spokesman Robert Gibbs said Friday that financial industry compensation shows a "disconnect" with the rest of the nation. "Wall Street seems to have forgotten that Main Street is the reason that they survived," Gibbs, who said he had not seen reports of Dimon's pay, told reporters.
Dimon's restricted stock units are now valued at $7.51 million, based on Thursday's closing price of $38.35. The options are valued at $7.6 million, according to Bloomberg News calculations. The awards were priced by the firm last month at $43.20, and they fell 11% from that price through Thursday.