Merrill Lynch is to spend USD11.4 million in pay packages to their executives under a performance-based plan. The figure is based on a closing share price of USD93.56, as of 31 Jan.
The chairman and chief executive Stanley E. O’Neal, and executive vice presidents Ahmass L. Fakahany, Gregory J. Fleming and Dow Kim were given 121,363 restricted shares each as part of the performance-based plan.