JPMorgan awards CEO Dimon $8 million restricted stock

By IBTimes Staff Reporter | February 05 2010 12:08 PM

JPMorgan Chase & Co JPM.N> awarded Chief Executive Jamie Dimon restricted stock worth almost $8 million plus a package of 10-year stock options, according to an SEC filing on Friday.

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Separately, Dimon will not receive a cash bonus for 2009, a spokesman said.

The 195,704 shares Dimon received on Wednesday are restricted until January 2013, while the 563,562 options expire in January 2020 and have an exercise price of $43.20, according to the filing.

Bankers' compensation has been a hot-button issue amid the financial crisis and Dimon also did not take a cash bonus in 2008.

The bank also disclosed restricted stock and option awards for other top executives.

JPMorgan shares closed at $38.35 on Thursday. The shares closed at $40.29 on Wednesday, when the stock and options were granted.

(Reporting by Elinor Comlay, editing by Dave Zimmerman)