secwatch.observer — SEC 8-K summary
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Issuer:     BANK OF AMERICA CORP /DE/ (BAC)
CIK:        0000070858
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0000070858-24-000027
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of America CEO Moynihan awarded $29M total compensation for 2023, versus $30M in 2022
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- Total compensation $29M, down from $30M in 2022; base salary unchanged at $1.5M.
- Equity incentive valued at $27.5M, split 30% cash-settled RSUs, 20% stock-settled RSUs, 50% performance RSUs.
- No cash bonus; performance RSUs use a three-year re-earn approach (2024-2026).
- Company 2023 net income $26.5B, down 4% YoY; excluding FDIC and BSBY items, net income $29.3B (+6%).
- Board highlighted organic growth, $12B returned to shareholders in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70858/000007085824000027/0000070858-24-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70858/000007085824000027/bac-20240202.htm
  HTML page:      https://secwatch.observer/filing/0000070858-24-000027

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