Bank One Corp. chief executive officer John B. McCoy's compensation jumped 11%, to $9 million in 1998, plus stock options valued at $2.8 million.
Verne G. Istock, chairman of the company, received 1998 compensation of $16.5 million and stock options of $5.2 million. That compared with 1997 pay of $2.7 million.
Included in Mr. Istock's compensation is a $13.8 million stock award related to the October acquisition of his company by Banc One Corp. of Columbus. Mr. Istock was formerly the chairman and CEO of First Chicago. Mr. Istock's options vest over 10 years. Mr. McCoy's expire in 2018.
David J. Vitale, a Bank One vice chairman and former First Chicago executive, also received a merger-related stock award of $5.1 million, boosting his 1998 pay to $6.7 million.