08:29 AM EST, 02/19/2025 (MT Newswires) -- Citigroup ( C ) said Tuesday that it is boosting Chief Executive Jane Fraser's annual compensation package to $34.5 million for 2024.

The company said in a regulatory filing that the package includes a $1.5 million base salary, $4.95 million in cash incentives, and the rest in deferred equities and options.

Fraser received $26 million in total compensation the previous year, Reuters reported.

Citigroup's ( C ) board cited 3% revenue growth and 37% net income growth in 2024 compared with a year earlier as elements used to determine Fraser's total compensation.

C shares were 0.5% lower in recent premarket activity.