: Citigroup trims cash incentive, boosts stock portion for CEO Jane Fraser

Citigroup Inc. C said late Tuesday that it was trimming the cash portion and increasing the stock portion of Chief Executive Jane Fraser’s compensation while keep her base salary flat, resulting in a total pay package of $24.5 million in 2022. In a filing with the Securities and Exchange Commission, Citi said its compensation committee increased Fraser’s compensation paid in deferred Citi common stock to 35% in 2022 from 20% in 2021, and cash incentive compensation to 15% from 30%.The 2022 package includes a flat base salary of $1.5 million and a total incentive award of $23 million, including $11.5 million in performance share units. Executive pay has fallen under scrutiny as waves of layoffs work their way through the system.

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