BankBoston Corp. boosted the pay of chief executive officer Charles K. Gifford to $3.3 million in 1997, a 27% increase over a year earlier.

According to the company's proxy statement filed Wednesday, Mr. Gifford was also granted options on 73,100 shares, with an exercise price of $69.625 a share. In addition to his salary and bonus, Mr. Gifford exercised options on 143,290 shares valued at $6.04 million, according to the filing. Mr. Gifford assumed the chairmanship of BankBoston on Jan. 1.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.