SunTrust CEO Wells’ Total Comp Hits $10M
Press release from the issuing company
Thursday, March 10th, 2011
SunTrust Banks Inc. Chairman and CEO James M. Wells III saw a nearly 34 percent rise in total compensation in 2010, the same year the Atlanta bank swung back to profitability.
According to a proxy filing with the Securities and Exchange Commission, Wells got $10.3 million in total compensation last year from Atlanta-based SunTrust (NYSE: STI), compared with $7.7 million in 2009. His salary was flat at $1.07 million, but his stock awards rose about 229 percent to $4.6 million. Wells declined a significant portion of his 2009 stock option award -- 552,941 options.
