(Reuters) -Bank of America Corp ( BAC ) increased the compensation for Chief Executive Officer Brian Moynihan by roughly 21% to $35 million for 2024, the lender said in a filing on Friday.

That compares with Moynihan's pay of $29 million in 2023.

Last month, the lender's fourth-quarter profit beat expectations as its traders benefited from a flurry of activity in the period, while the bank predicted it would earn more interest income in 2025.

Bank of America ( BAC ) is also awarding stock to most of its global employees for the eighth time since 2017, following a robust performance by the second-largest U.S. lender in 2024.

BofA's bonus pool for investment bankers will probably rise 10% from the previous year, Reuters reported last month, citing a source.