Finance & Business World

Citigroup Inc. on Thursday disclosed equity awards for its top executives, including an award of $26.7 million in stock and 3 million stock options for new CEO Vikram Pandit.

Pandit, a former Morgan Stanley executive who took over at Citigroup last month, was awarded 1,094,948.7 shares under the company’s stock incentive plan on Tuesday, when shares of the banking giant closed at $24.40. Since then, Citigroup’s shares have risen and closed on Thursday at $27.33.

Citigroup’s (C, Fortune 500) stock fell 1.2 percent in Friday morning trading.

Pandit’s stock options were awarded in three lots of one million options each, all of which vest in one year. The exercise price of the first lot was pegged to Tuesday’s $24.40 closing price, the exercise price of the second lot was 25 percent above that figure, or $30.50, and the exercise price of the third lot was 50 percent above Tuesday’s closing price, or $36.60.

Other awards went to executives including Michael Stuart Klein, Co-CEO Citi Markets and Banking, who got 524,117 shares valued at $12.8 million at Tuesday’s closing price; Chief Financial Officer Gary L payday loan. Crittenden, who got 377,579.4 shares valued at $9.2 million; Sallie Krawcheck, Chair/CEO of Global Wealth Management, who got 345,550.1 shares valued at $8.4 million, and Vice Chairman Stephen Volk, who got 339,916.5 shares valued at $8.3 million. 

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