NEW YORK CITY (dpa-AFX) - Banking major JPMorgan Chase & Co.'s annual
compensation to CEO James Dimon for fiscal 2023 has been increased from last
year, according to a filing with the U.S. Securities And Exchange Commission.

The Board of Directors of the bank approved the annual compensation for Dimon of
$36 million, compared to last year's $34.50 million.

As per the filing, the annual compensation for 2023 reflects 'Dimon's
stewardship of the Firm, with growth across all of its market leading lines of
business, record financial results and a fortress balance sheet.'

It also noted that under his leadership, the company successfully navigated and
supported its clients and customers through the regional bank turmoil as well as
completed the acquisition of First Republic.

Dimon's total compensation includes an annual base salary of $1.50 million and
performance-based variable incentive compensation of $34.50 million. In this, $5
million of the variable incentive compensation will be delivered in cash and the
remaining $29.50 million will be delivered in the form of at-risk Performance
Share Units or PSUs.

The company in the filing noted that PSUs tie 100% of Dimon's annual
equity-based compensation to ongoing performance metrics, representing 86% of
his total variable incentive compensation.

JPMorgan noted that, under Dimon's stewardship, it continued to serve its
clients and customers to advance economic growth amid the significant challenges
of the regional bank turmoil, ongoing, growing geopolitical tensions, global
economic uncertainty, and elevated inflation and higher rates. During this time,
the bank also invested in and executed on long-term strategic initiatives.

In fiscal 2023, the bank reported record revenue for the 6th consecutive year of
$162.4 billion and net income of $49.6 billion, or $16.23 per share, with ROTCE
of 21%.

The Firm increased its quarterly common dividend to $1.05 per share from $1.00.

The bank further said, 'The Board continues to recognize that the Firm is in a
uniquely fortunate position to be led by such a highly talented and experienced
executive who continues to grow the company, maintain market leadership
positions, strengthen the Firm's reputation, invest in opportunities for the
future, promote diversity and best practices, manage risk and develop great
leaders, while also maintaining his focus on the Firm's clients.'

JPMorgan in mid 2021 had granted Dimon a special award of 1.50 million stock
options, reflecting the Board's desire for him to continue to lead the company
for a further significant number of years.

In its latest fourth quarter, the bank reported that noninterest expense climbed
29 percent, driven largely by the FDIC special assessment and higher
compensation, including front office incentive compensation.



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