Morgan Chief Took Home $12.6 Million
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J.P. Morgan & Co. Chairman Douglas Warner III got about $7.4 million in compensation last year, including stock options, while the bank’s profit dropped 34% to $963 million, according to a government filing Thursday.
He also realized another $5.2 million on options exercised last year, boosting the amount he took home to $12.6 million.
In 1997, Warner’s pay package was about $7.6 million, including options and a higher bonus. He also realized $3.6 million in gains on options exercised, making the total $11.2 million.
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