Capital One Financial Corp. Chairman and CEO Richard Fairbank reportedly received stock options and awards valued at $6.1 million in 2009, 35% less than his 2008 pay, according a Dow Jones report citing the bank's proxy filing Thursday.
Though Fairbank’s compensation remains entirely in equity, last year the company split his pay into $2 million in stock awards and $4 million in stock options.
In 2008 he received $68,344 for perks such as security for his home and insurance.
Fairbank was awarded a total compensation of $11 million for his performance last year. He received a portion of that pay in January of this year. He had received the bulk of the pay awarded for 2008, valued at $17.1 million, in 2007.
Compensation for the other executives named in the proxy fell by 20% to 33%.
Like many banking companies, Cap One altered its senior executives’ compensation after accepting aid through the Treasury Department's Troubled Asset Relief Program.
