From Reuters: Citigroup Inc said on Thursday it has overhauled the executive pay plan that shareholders rejected last year as overly generous, revising it to tie bonus payments more closely to stock performance and profitability.
The company also said in a filing that it is paying new Chief Executive Mike Corbat $11.5 million for his work in 2012.
Under the plan, 30 percent of the bonus for top executives will be paid in cash based on how much the company earns on assets and on total shareholder return compared with peers over three years through 2015. Another 40 percent will be a simple cash bonus and the final 30 percent will be deferred stock….
Read all about it at http://uk.reuters.com/article/2013/02/22/uk-citigroup-pay-idUKBRE91K1D320130222