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JPMorgan Chase shares close lower on Thursday, CEO Dimon receives $34.5 million in 2022 compensation

Total 2022 compensation for JPMorgan Chase & Co’s Chief Executive Officer Jamie Dimon remained unchanged at $34.5 million, the Wall Street bank said in a regulatory filing.

The CEO’s compensation included an annual base salary of $1.5 million as well as a performance-based incentive pay of $33 million.

“There was no special award granted to Mr. Dimon in 2022 and the Board has committed to not grant any special awards to him in the future,” JPMorgan said in the filing.

The CEO pay decision was based on the lender’s performance last year, as it had to deal with “significant challenges of strong competition, growing geopolitical tensions, global economic uncertainty, mounting inflation and higher rates, and the lingering impacts of COVID-19”.

The shares of JPMorgan Chase & Co (JPM) closed 1.33% ($1.82) lower at $134.75 in New York on Thursday, with the financial group’s total market cap now standing at $395.40 billion.

The shares of JPMorgan Chase & Co went down 15.31% in 2022, compared with a 19.44% loss for the benchmark index, S&P 500 (SPX).

Analyst stock price forecast and recommendation

According to TipRanks, at least 9 out of 13 surveyed investment analysts had rated JPMorgan Chase & Co’s stock as “Buy”, while 4 – as “Hold”. The median price target on the stock stands at $157.46.

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