Citigroup Gives CEO 4% Pay Raise to $24 Million
By: Wall Street Journal
February 15, 2019
Citigroup Inc. C -1.72% Chief Executive Michael Corbat received a compensation package valued at $24 million in 2018, a 4% raise from the $23 million he earned in the prior year, according to a securities filing Friday.
For the year, he earned a base salary of $1.5 million, unchanged from the prior year, and a $6.75 million cash bonus, up from the $6.45 million in 2017, according to the filing with the Securities and Exchange Commission. The rest of his pay package is made up of about $7.88 million in equity awards and a long-term performance-based pay worth $7.88 million.
In determining Mr. Corbat’s pay, Citi said it considered the steady progress it made in 2018 toward reaching its financial goals.
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