JPMorgan Grants Pinto Stock Award Worth About $25 Million (2)

JPMorgan Chase & Co. granted Daniel Pinto a special stock award worth around $25 million ahead of his promotion next month to sole president of the biggest U.S. bank.

The firm’s compensation and management-development committee awarded Pinto 750,000 options in the form of stock-appreciation rights, the New York-based company said Wednesday in a regulatory filing.

“The special award reflects the CMDC’s desire for Mr. Pinto to continue his outstanding leadership in this new role for a further significant number of years,” the company said in the filing. “The options are not part of Mr. Pinto’s regular annual compensation and ...