secwatch.observer — SEC 8-K summary
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Issuer:     BANK OF AMERICA CORP /DE/ (BAC)
CIK:        0000070858
Form:       8-K
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0000070858-23-000008
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of America CEO Moynihan's 2022 total compensation set at $30M, down from $32M
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- Board approved $30M total compensation for CEO Moynihan in 2022, vs $32M in 2021.
- Company earned $27.5B net income in 2022; revenue grew 7% with 400 bps operating leverage.
- Returned $12B to shareholders via dividends and buybacks; stock price declined 26% in 2022.
- CEO compensation: $1.5M base salary + $28.5M equity; 50% is performance RSUs with re-earn over 3 years.
- Raised minimum hourly pay to $22; added 1M net new consumer checking accounts in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70858/000007085823000008/0000070858-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70858/000007085823000008/bac-20230203.htm
  HTML page:      https://secwatch.observer/filing/0000070858-23-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer