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Article: Bank of New York resumes bonuses for its top executives. (Bank of New York Company Inc. CEO J. Carter Bacot, vice chairman Samuel F. Chevalier and senior executive VP Deno D. Papageorge receive incentive bonuses) (Brief Article)
- Article from:
- American Banker
- Article date:
- April 7, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bank of New York Co. awarded its top officers healthy bonuses last year after skipping incentive pay in 1991.
J. Carter Bacot, chairman and chief executive officer, received $1.7 million in total compensation last year, according to the banking company's statement to shareholders.
A Hefty Payment
The figure includes a $913,750 bonus - $600,000 in cash and the rest in stock. Mr. Bacot last received a bonus in 1990, when he was awarded $200,000.
Mr. Bacot received $800,000 in salary last year, the same as in 1991. He was also awarded 50,000 shares of stock at an exercise price of $37.75.
Samuel ...