Feb 29 (Reuters) - Wells Fargo & Co Chief Executive Officer John Stumpf received a restricted stock grant worth about $700,000 as part of his 2011 incentive compensation, according to a securities filing on Wednesday.
The San Francsico-based bank granted Stumpf 22,315 “restricted share rights,” which vest over three years. That was down from 24,432 shares a year earlier.
The bank is set to disclose the rest of Stumpf’s compensation in a proxy filing in March. The bank also disclosed stock grants for other top executives in filings on Thursday.
Wells Fargo’s shares fell 11 percent in 2011, compared to a 25 percent decline in the KBW Bank Index. Wells is the fourth-largest U.S. bank by assets.