(wire)
Morgan Stanley CEO could receive $8M stock bonus
Morgan Stanley CEO James Gorman could receive a stock bonus valued at $8.1 million for 2009 if he meets specific performance standards.
According to the bank, Gorman will receive deferred stock worth $5.4 million but no cash bonus for last year, but will not be able to cash in the stock for three years.
In addition, he could receive stock currently valued at $2.7 million, if certain performance criteria are met.
Morgan Stanley also said that it will give Gorman a "clawback" deferred cash award that could boost his 2009 pay even further.
According to the bank, Gorman will receive deferred stock worth $5.4 million but no cash bonus for last year, but will not be able to cash in the stock for three years.
In addition, he could receive stock currently valued at $2.7 million, if certain performance criteria are met.
Morgan Stanley also said that it will give Gorman a "clawback" deferred cash award that could boost his 2009 pay even further.
