Despite most bank CEOs missing performance targets, their average pay has surpassed $11 million. In a notable case, New York Community Bank (NYCB) has offered its new CEO, Joseph Otting, a compensation package that could potentially amount to tens of millions of dollars. This includes 15 million options struck at $2/share, with the current stock price around $3.4, valuing these options at approximately $21 million.
Embattled lender NYCB announces incoming CEO Otting's base salary https://t.co/AmFDnRhnir https://t.co/XQGx5opR2C
Embattled lender NYCB announces incoming CEO Otting's base salary https://t.co/DdjS2L0fnx https://t.co/cajEuT6pCF
NYCB is giving new CEO Joseph Otting a pay package and incentives that could reach tens of millions of dollars https://t.co/HLfewGHJ26
Not a bad payday for $NYCB's new CEO; 15m options struck at $2/share (with the stock at ~$3.4, those are currently ~$21m in money) https://t.co/lQQ31phe8N
Bank CEO average pay tops $11 million despite most missing performance targets https://t.co/EDZpek7iME