Definitive revised proxy soliciting materials

Pay vs Performance Disclosure

v3.22.4
Pay vs Performance Disclosure
Unit_pure in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
2022 Pay versus performance table
 
Year
  
“Summary
compensation
table” total
for CEO
(1)
($)
  
Compensation
actually paid
to CEO
(2)
($)
  
Average
“Summary
compensation
table” total for
other NEOs
(1)
($)
  
Average
compensation
actually paid to
other NEOs
(2)
($)
  
Company
TSR
(3)
($)
  
Peer group
TSR
(3)
($)
  
Net
income
($ in
millions)
  
Revenue
($ in
millions)
(4)
2022
       30,177,503         11,009,642         18,641,262         11,731,112         101         98         27,528         94,950  
2021
       23,729,169         49,888,896         16,930,383         29,568,322         132         124         31,978         89,113  
2020
       25,940,571         15,682,323         13,670,189         10,636,899         88         90         17,894         85,528  
(1)
The CEO for each year reported was Brian T. Moynihan. The other named executive officers, or NEOs, for each year reported are as follows:
 
 
•
  
2022: Alastair M. Borthwick; Dean C. Athanasia; Paul M. Donofrio; and Geoffrey S. Greener
 
•
  
2021: Alastair M. Borthwick; Paul M. Donofrio; James P. DeMare; Matthew M. Koder; and Thomas K. Montag
 
•
  
2020: Paul M. Donofrio; Dean C. Athanasia; Geoffrey S. Greener; and Thomas K. Montag
 
(2)
SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
 
Year
  
Executive(s)
  
“Summary
compensation
table” total
($)
  
Pension valuation
adjustments
  
Equity award adjustments
 
Deduct change in
pension value
($)
  
Deduct stock
awards
($)
  
Add year-end
value of
unvested
equity awards
granted in
year
($)
  
Change in value
of unvested
equity awards
granted in prior
years
($)
  
Change in value
of equity
awards granted
in prior years
which vested in
year
($)
  
Change in value
of equity
awards granted
and vested in
year
($)
  
Add  
dividends  
& interest  
accrued  
($)  
2022
  
CEO
   30,177,503   (572,826)   (27,629,501)   13,900,974   (10,315,434)   (1,035,168)   5,555,781      928,313  
 
  
Other NEOs
   18,641,262       (293)   (12,769,837)     8,908,283     (3,606,049)         68,116                 0      489,632  
2021
  
CEO
   23,729,169   (565,990)   (21,395,424)   21,212,392   15,360,138   2,969,040   7,451,659   1,127,912  
 
  
Other NEOs
   16,930,383     (40,375)   (10,171,908)   13,027,592     7,810,905   1,025,744      332,216      653,765  
2020
  
CEO
   25,940,571   (673,974)   (23,525,808)   14,573,892     (3,497,139)   (2,794,934)   4,516,243   1,143,472  
 
  
Other NEOs
   13,670,189     (54,468)     (7,481,883)     6,415,373     (1,406,086)      (998,241)                 0      492,015  
 
 
(3)
TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the KBW Bank Index.
 
(4)
Represents total revenue, net of interest expense.
   
Company Selected Measure Name revenue    
Named Executive Officers, Footnote [Text Block] The other named executive officers, or NEOs, for each year reported are as follows:
 
•
  
2022: Alastair M. Borthwick; Dean C. Athanasia; Paul M. Donofrio; and Geoffrey S. Greener
 
•
  
2021: Alastair M. Borthwick; Paul M. Donofrio; James P. DeMare; Matthew M. Koder; and Thomas K. Montag
 
•
  
2020: Paul M. Donofrio; Dean C. Athanasia; Geoffrey S. Greener; and Thomas K. Montag
   
Peer Group Issuers, Footnote [Text Block] TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the KBW Bank Index.    
PEO Total Compensation Amount $ 30,177,503 $ 23,729,169 $ 25,940,571
PEO Actually Paid Compensation Amount $ 11,009,642 49,888,896 15,682,323
Adjustment To PEO Compensation, Footnote [Text Block]
SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
 
Year
  
Executive(s)
  
“Summary
compensation
table” total
($)
  
Pension valuation
adjustments
  
Equity award adjustments
 
Deduct change in
pension value
($)
  
Deduct stock
awards
($)
  
Add year-end
value of
unvested
equity awards
granted in
year
($)
  
Change in value
of unvested
equity awards
granted in prior
years
($)
  
Change in value
of equity
awards granted
in prior years
which vested in
year
($)
  
Change in value
of equity
awards granted
and vested in
year
($)
  
Add  
dividends  
& interest  
accrued  
($)  
2022
  
CEO
   30,177,503   (572,826)   (27,629,501)   13,900,974   (10,315,434)   (1,035,168)   5,555,781      928,313  
 
  
Other NEOs
   18,641,262       (293)   (12,769,837)     8,908,283     (3,606,049)         68,116                 0      489,632  
2021
  
CEO
   23,729,169   (565,990)   (21,395,424)   21,212,392   15,360,138   2,969,040   7,451,659   1,127,912  
 
  
Other NEOs
   16,930,383     (40,375)   (10,171,908)   13,027,592     7,810,905   1,025,744      332,216      653,765  
2020
  
CEO
   25,940,571   (673,974)   (23,525,808)   14,573,892     (3,497,139)   (2,794,934)   4,516,243   1,143,472  
 
  
Other NEOs
   13,670,189     (54,468)     (7,481,883)     6,415,373     (1,406,086)      (998,241)                 0      492,015  
 
 
    
Non-PEO NEO Average Total Compensation Amount $ 18,641,262 16,930,383 13,670,189
Non-PEO NEO Average Compensation Actually Paid Amount $ 11,731,112 29,568,322 10,636,899
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
 
Year
  
Executive(s)
  
“Summary
compensation
table” total
($)
  
Pension valuation
adjustments
  
Equity award adjustments
 
Deduct change in
pension value
($)
  
Deduct stock
awards
($)
  
Add year-end
value of
unvested
equity awards
granted in
year
($)
  
Change in value
of unvested
equity awards
granted in prior
years
($)
  
Change in value
of equity
awards granted
in prior years
which vested in
year
($)
  
Change in value
of equity
awards granted
and vested in
year
($)
  
Add  
dividends  
& interest  
accrued  
($)  
2022
  
CEO
   30,177,503   (572,826)   (27,629,501)   13,900,974   (10,315,434)   (1,035,168)   5,555,781      928,313  
 
  
Other NEOs
   18,641,262       (293)   (12,769,837)     8,908,283     (3,606,049)         68,116                 0      489,632  
2021
  
CEO
   23,729,169   (565,990)   (21,395,424)   21,212,392   15,360,138   2,969,040   7,451,659   1,127,912  
 
  
Other NEOs
   16,930,383     (40,375)   (10,171,908)   13,027,592     7,810,905   1,025,744      332,216      653,765  
2020
  
CEO
   25,940,571   (673,974)   (23,525,808)   14,573,892     (3,497,139)   (2,794,934)   4,516,243   1,143,472  
 
  
Other NEOs
   13,670,189     (54,468)     (7,481,883)     6,415,373     (1,406,086)      (998,241)                 0      492,015  
 
 
    
Compensation Actually Paid vs. Net Income [Text Block]
The chart below highlights the alignment between “compensation actually paid” to our named executive officers and our TSR performance and net income for the past three fiscal years.
 
 

    
Tabular List [Table Text Block]
Net Income
 
Revenue
 
Total Shareholder Return
 
Return on Assets
 
Tangible Book Value
    
Total Shareholder Return Amount $ 101 132 88
Peer Group Total Shareholder Return Amount 98 124 90
Net Income (Loss) $ 27,528,000,000 $ 31,978,000,000 $ 17,894,000,000
Company Selected Measure Amount 94,950 89,113 85,528
PEO Name Brian T. Moynihan    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Net Income    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Revenue    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Total Shareholder Return    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Return on Assets    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Tangible Book Value    
PEO [Member] | change in pension value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (572,826) $ (565,990) $ (673,974)
PEO [Member] | stock awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (27,629,501) (21,395,424) (23,525,808)
PEO [Member] | yearend value of unvested equity awards granted in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 13,900,974 21,212,392 14,573,892
PEO [Member] | Change in value of unvested equity awards granted in prior years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (10,315,434) 15,360,138 (3,497,139)
PEO [Member] | Change in value of equity awards granted in prior years which vested in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,035,168) 2,969,040 (2,794,934)
PEO [Member] | Change in value of equity awards granted and vested in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 5,555,781 7,451,659 4,516,243
PEO [Member] | dividends interest accrued [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 928,313 1,127,912 1,143,472
Non-PEO NEO [Member] | change in pension value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (293) (40,375) (54,468)
Non-PEO NEO [Member] | stock awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (12,769,837) (10,171,908) (7,481,883)
Non-PEO NEO [Member] | yearend value of unvested equity awards granted in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 8,908,283 13,027,592 6,415,373
Non-PEO NEO [Member] | Change in value of unvested equity awards granted in prior years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (3,606,049) 7,810,905 (1,406,086)
Non-PEO NEO [Member] | Change in value of equity awards granted in prior years which vested in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 68,116 1,025,744 (998,241)
Non-PEO NEO [Member] | Change in value of equity awards granted and vested in year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 332,216 0
Non-PEO NEO [Member] | dividends interest accrued [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 489,632 $ 653,765 $ 492,015