J.P. Morgan Gives CEO Dimon Stock Option of 2 Million Shares

By Dow Jones Business News, 
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J.P. Morgan Chase & Co. ( JPM ) has awarded Chairman and Chief Executive James Dimon stock options for two million shares, according to a regulatory filing Thursday.

The company said it awarded Mr. Dimon the shares in 2008 in recognition of his "stewardship" during the financial crisis. In its filing, the bank said its compensation committee in January 2013 had determined vesting conditions had been met for the awards to Mr. Dimon but that the board deferred for further evaluation of performance goals.

The company said its compensation committee had decided not to defer the vesting further, and said the shares will be exercisable on July 22.

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This article appears in: Options

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