- BAC Dashboard
- Financials
- Filings
- Holdings
- Transcripts
- ETFs
- Insider
- Institutional
- Shorts
-
DEF 14A Filing Data
Bank of America (BAC) DEF 14A7 Mar 23Definitive proxyFinancial data
Company Profile
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Bank of America Corporation |
Entity Central Index Key | 0000070858 |
Pay vs Performance Disclosure Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | 2022 Pay versus performance table Year “Summary compensation table” total for CEO (1) ($) Compensation actually paid to CEO (2) ($) Average “Summary compensation table” total for other NEOs (1) ($) Average compensation actually paid to other NEOs (2) ($) Company TSR (3) ($) Peer group TSR (3) ($) Net income ($ in millions) Revenue ($ in millions) (4) 2022 30,177,503 11,009,642 18,641,262 11,731,112 101 98 27,528 94,950 2021 23,729,169 49,888,896 16,930,383 29,568,709 132 124 31,978 89,113 2020 25,940,571 15,682,323 13,670,189 10,639,620 88 90 17,894 85,528 (1) The CEO for each year reported was Brian T. Moynihan. The other named executive officers, or NEOs, for each year reported are as follows: • 2022: Alastair M. Borthwick; Dean C. Athanasia; Paul M. Donofrio; and Geoffrey S. Greener • 2021: Alastair M. Borthwick; Paul M. Donofrio; James P. DeMare; Matthew M. Koder; and Thomas K. Montag • 2020: Paul M. Donofrio; Dean C. Athanasia; Geoffrey S. Greener; and Thomas K. Montag (2) SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO): Year Executive(s) “Summary compensation table” total ($) Pension valuation adjustments Equity award adjustments Deduct change in pension value ($) Deduct stock awards ($) Add year-end value of unvested equity awards granted in year ($) Change in value of unvested equity awards granted in prior years ($) Change in value of equity awards granted in prior years which vested in year ($) Change in value of equity awards granted and vested in year ($) Add dividends & interest accrued ($) 2022 CEO 30,177,503 (572,826) (27,629,501) 13,900,974 (10,315,434) (1,035,168) 5,555,781 928,313 Other NEOs 18,641,262 (293) (12,769,837) 8,908,283 (3,606,049) 68,116 0 489,632 2021 CEO 23,729,169 (565,990) (21,395,424) 21,212,392 15,360,138 2,969,040 7,451,659 1,127,912 Other NEOs 16,930,383 (40,375) (10,171,908) 13,027,592 7,810,905 1,025,744 332,216 654,152 2020 CEO 25,940,571 (673,974) (23,525,808) 14,573,892 (3,497,139) (2,794,934) 4,516,243 1,143,472 Other NEOs 13,670,189 (54,468) (7,481,883) 6,415,373 (1,406,086) (998,241) 0 494,736 (3) TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the KBW Bank Index. (4) Represents total revenue, net of interest expense. | ||
Company Selected Measure Name | revenue | ||
Named Executive Officers, Footnote [Text Block] | The other named executive officers, or NEOs, for each year reported are as follows: • 2022: Alastair M. Borthwick; Dean C. Athanasia; Paul M. Donofrio; and Geoffrey S. Greener • 2021: Alastair M. Borthwick; Paul M. Donofrio; James P. DeMare; Matthew M. Koder; and Thomas K. Montag • 2020: Paul M. Donofrio; Dean C. Athanasia; Geoffrey S. Greener; and Thomas K. Montag | ||
Peer Group Issuers, Footnote [Text Block] | TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the KBW Bank Index. | ||
PEO Total Compensation Amount | $ 30,177,503 | $ 23,729,169 | $ 25,940,571 |
PEO Actually Paid Compensation Amount | $ 11,009,642 | 49,888,896 | 15,682,323 |
Adjustment To PEO Compensation, Footnote [Text Block] | SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO): Year Executive(s) “Summary compensation table” total ($) Pension valuation adjustments Equity award adjustments Deduct change in pension value ($) Deduct stock awards ($) Add year-end value of unvested equity awards granted in year ($) Change in value of unvested equity awards granted in prior years ($) Change in value of equity awards granted in prior years which vested in year ($) Change in value of equity awards granted and vested in year ($) Add dividends & interest accrued ($) 2022 CEO 30,177,503 (572,826) (27,629,501) 13,900,974 (10,315,434) (1,035,168) 5,555,781 928,313 Other NEOs 18,641,262 (293) (12,769,837) 8,908,283 (3,606,049) 68,116 0 489,632 2021 CEO 23,729,169 (565,990) (21,395,424) 21,212,392 15,360,138 2,969,040 7,451,659 1,127,912 Other NEOs 16,930,383 (40,375) (10,171,908) 13,027,592 7,810,905 1,025,744 332,216 654,152 2020 CEO 25,940,571 (673,974) (23,525,808) 14,573,892 (3,497,139) (2,794,934) 4,516,243 1,143,472 Other NEOs 13,670,189 (54,468) (7,481,883) 6,415,373 (1,406,086) (998,241) 0 494,736 | ||
Non-PEO NEO Average Total Compensation Amount | $ 18,641,262 | 16,930,383 | 13,670,189 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 11,731,112 | 29,568,709 | 10,639,620 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO): Year Executive(s) “Summary compensation table” total ($) Pension valuation adjustments Equity award adjustments Deduct change in pension value ($) Deduct stock awards ($) Add year-end value of unvested equity awards granted in year ($) Change in value of unvested equity awards granted in prior years ($) Change in value of equity awards granted in prior years which vested in year ($) Change in value of equity awards granted and vested in year ($) Add dividends & interest accrued ($) 2022 CEO 30,177,503 (572,826) (27,629,501) 13,900,974 (10,315,434) (1,035,168) 5,555,781 928,313 Other NEOs 18,641,262 (293) (12,769,837) 8,908,283 (3,606,049) 68,116 0 489,632 2021 CEO 23,729,169 (565,990) (21,395,424) 21,212,392 15,360,138 2,969,040 7,451,659 1,127,912 Other NEOs 16,930,383 (40,375) (10,171,908) 13,027,592 7,810,905 1,025,744 332,216 654,152 2020 CEO 25,940,571 (673,974) (23,525,808) 14,573,892 (3,497,139) (2,794,934) 4,516,243 1,143,472 Other NEOs 13,670,189 (54,468) (7,481,883) 6,415,373 (1,406,086) (998,241) 0 494,736 | ||
Compensation Actually Paid vs. Net Income [Text Block] | The chart below highlights the alignment between “compensation actually paid” to our named executive officers and our TSR performance and net income for the past three fiscal years. | ||
Tabular List [Table Text Block] | Net Income Revenue Total Shareholder Return Return on Assets Tangible Book Value | ||
Total Shareholder Return Amount | $ 101 | 132 | 88 |
Peer Group Total Shareholder Return Amount | 98 | 124 | 90 |
Net Income (Loss) | $ 27,528,000,000 | $ 31,978,000,000 | $ 17,894,000,000 |
Company Selected Measure Amount | 94,950 | 89,113 | 85,528 |
PEO Name | Brian T. Moynihan | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Revenue | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Return on Assets | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Tangible Book Value | ||
PEO [Member] | change in pension value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (572,826) | $ (565,990) | $ (673,974) |
PEO [Member] | stock awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (27,629,501) | (21,395,424) | (23,525,808) |
PEO [Member] | yearend value of unvested equity awards granted in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 13,900,974 | 21,212,392 | 14,573,892 |
PEO [Member] | Change in value of unvested equity awards granted in prior years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (10,315,434) | 15,360,138 | (3,497,139) |
PEO [Member] | Change in value of equity awards granted in prior years which vested in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,035,168) | 2,969,040 | (2,794,934) |
PEO [Member] | Change in value of equity awards granted and vested in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 5,555,781 | 7,451,659 | 4,516,243 |
PEO [Member] | dividends interest accrued [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 928,313 | 1,127,912 | 1,143,472 |
Non-PEO NEO [Member] | change in pension value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (293) | (40,375) | (54,468) |
Non-PEO NEO [Member] | stock awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (12,769,837) | (10,171,908) | (7,481,883) |
Non-PEO NEO [Member] | yearend value of unvested equity awards granted in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 8,908,283 | 13,027,592 | 6,415,373 |
Non-PEO NEO [Member] | Change in value of unvested equity awards granted in prior years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,606,049) | 7,810,905 | (1,406,086) |
Non-PEO NEO [Member] | Change in value of equity awards granted in prior years which vested in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 68,116 | 1,025,744 | (998,241) |
Non-PEO NEO [Member] | Change in value of equity awards granted and vested in year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 332,216 | 0 |
Non-PEO NEO [Member] | dividends interest accrued [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 489,632 | $ 654,152 | $ 494,736 |