Filing: Bank of America CEO taking cut in pay

February 18, 2012 at 12:00a.m.

Associated Press

CHARLOTTE, N.C.

Bank of America’s chief executive is taking a pay cut.

Brian Moynihan will be eligible for up to $5.9 million in restricted stock for his 2011 bonus, according to a regulatory filing the bank made Friday. That would be 35 percent less than the $9.05 million in restricted stock awards that he was eligible for in 2010.

Excluding the restricted stock awards, which are redeemable only if the bank meets certain guidelines, Moynihan was paid $1.25 million in 2010, including a salary of $950,000.