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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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