JPMorgan raises CEO's compensation for 2021

Independent members of JPMorgan Chase & Co.'s board have approved CEO James Dimon's total compensation for 2021 at $34.5 million, compared to 2020's pay of $31.5 million.

Dimon's total compensation includes an annual base salary of $1.5 million and performance-based variable incentive worth $33 million. Of the variable component, $5 million will be delivered in cash, while the remaining $28 million will be paid in the form of performance share units.

The features of the performance share unit program, along with base salary and cash incentive amounts are consistent with last year.

In determining Dimon's compensation, members took into consideration the firm's "strong" performance in 2021 and over the long term, across four broad dimensions: business results; risk, controls and conduct; client/customer/stakeholder; and teamwork and leadership, according to information in the company's 8-K filing.