Wells Fargo CEO Scharf earns $24.5 million

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Wells Fargo & Co. WFC, -0.10% CEO Charles W. Scharf earned total 2021 compensation of $24.5 million, which includes $2.5 million in base salary, a $5.37 million cash bonus, $10.81 million in performance shares awards (PSAs) and $5.82 million in restricted share rights (RSR), according to the bank’s proxy statement filed on Monday. In 2020, he earned $20.34 million including $2.5 million in base salary, $17.84 million in variable compensation, a $4.35 million cash bonus and $13.49 million in long-term equity. Scharf was paid $21.35 million in calendar year 2021, which does not include any 2021 pay awarded in 2022. The pay figure amounted to 290 times the estimated annual total compensation of the median Wells Fargo employee of $73,578. Shares of Wells Fargo fell 0.6% on Tuesday, compared to a rise of 0.9% by the S&P 500.

This article was originally published by Marketwatch.com. Read the original article here.

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